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Business, Litigation & Tax

IRS Tax Levy

IRS Bank Levies

The IRS may place a levy on a Taxpayer's bank account, provided that the IRS follows certain protocol before they do so.  Often, the IRS fails to comply with the required protocol, and the levy may be reversed immediately.  

Time is of the essence when the IRS levies a bank account.  From the date of the levy, the Taxpayer has 21 days to reverse the levy before the funds are actually seized.  Once the funds are seized, it is too late.  The IRS often sends out notice of levy several days after is has actually been filed.  Because of this, Taxpayers usually have less than 21 days when they learn that there is a bank levy.  Speak with an experienced tax attorney as soon as possible.  Most bank levies can be reversed before the IRS actually gets any money.

IRS Wage Garnishments

The IRS may also garnish a Taxpayer's wages up to 25.00% of the Taxpayer's disposable income.  This can be devastating.  Employers are usually given some lead time before they are required to execute on a wage garnishment, but the time frame is small.  Contact a knowledgable tax lawyer as soon as you find that your wages have been levied.

Some levies and garnishments can be resolved without an attorney.  If a Taxpayer owes the IRS $10,000.00 or less, and can afford to make some payments, the Taxpayer should immediately call the IRS to request a "streamlined installment agreement."  If the IRS continues to refuse to lift the levy or garnishment, call a tax professional.

IRS Collections may be reached at (800) 829-7650.