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  • dave rosa

IRS Bank Levy – How to Stop it Dead on Arrival

Updated: Sep 21

FLATFEE TAX RELIEF

Coast to Coast - IRS Help

IRS Tax Relief - Tax Debt Help



The "Assassination Bureau Strikes":


Like a skilled assassin - a Bank Levy strikes with very little notice. One day your debit card will be working like always, the next day your card will be declined while you’re buying your groceries or you receive an email that automatic payment gets declined. The IRS Bank Levy will be devastating and makes normal day to day living nearly impossible.


The IRS is legally required to send you Notices. There is no requirement that you actually receive an IRS Notice. If you’re here reading this article, you may have received some threatening letters from the IRS about your tax debt. If you receive a letter entitled Final Notice of Intent to Levy the IRS is letting you know that they intend to Levy your Bank Account. This means that they are in essence, freezing your bank account and not allowing you access to it. This is one of the most powerful tools the IRS uses to collect their debt. The Time To Act Is Now: This isn't hyperbolic. An IRS Bank Levy is very serious business. When the IRS freezes your account, the Agency will give you 21 days before your Bank is required to hand over all your money out of your account. Take advantage of this small window of time and take what steps it takes to make sure Uncle Sam doesn’t keep your money. The 21 days includes Saturdays, Sundays, and holidays. As you can see, you really don't have a whole lot of time. Also, consider this, try and get the IRS on the phone. the 21 day window will be next to impossible for a layman to stop an IRS Bank Levy.


The tax pros at Flat Fee Tax Relief utilizes the IRS' Practitioners Priority Service (PPS). Because Flat Fee Tax Relief provides IRS Help from Coast to Coast, we take full advantage of the different time zones. Example: A client located in 3 P.M. Eastern time zone can have our San Diego, California office call the IRS starting at Noon West Coast time.


A licensed IRS tax professional has a "practitioner's line" direct to the IRS. PPS service hours are weekdays:

a. 7 a.m. to 7 p.m. local time (Alaska and Hawaii follow Pacific time)

b.. 8 a.m. to 8 p.m. local time for Puerto Rico


These Are Your Options To Stop An IRS Bank Levy:

1) IRS Hardship Plan: Apply to be placed into Currently not Collectible status (CNC). You will need to prove to the IRS that due to the Levy of your Bank Account you will not be able to meet the basic standards of living day to day. If the IRS accepts your Hardship, being Currently not Collectible will last 12 to 24 months before the IRS requests an updated financial information. If you are declared CNC by the IRS and owe $10,000 or more, we recommend that you do an Offer in Compromise and settle your tax debt completely.

2) Payment Plan: You can agree to a payment plan with the IRS that will have you paying a monthly amount on your debt. The Bank Levy will be removed as long as you continue to pay monthly and on time. Now here is the "tricky part," because you are both a novice and driven by the anxiety brought on by a Bank Levy, you will probably agree to anything. The IRS will dictate to you a "number" and if you don't know what your options are, chances are you will agree to an Installment Agreement that will be destined for failure.

3) Negotiate a Settlement: If you are eligible and qualified to settle with IRS, you should "just go for it." An Offer in Compromise (OIC) will take 10 to 12 months from beginning to end. When it's accepted your IRS problems are over. With the help of a tax professional at Flat Fee Tax Relief this could become a reality as our team has a 96% Offer in Compromise success rate. The National Average is 42%.

It’s your choice. It's all on you. You can let the IRS seize the funds in your bank account, leaving you penniless – or you can act fast and make the right choices. Do take our advise and get on the fast track to being debt free.

STOP AN IRS BANK LEVY


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