IRS Tax Attorney Blog

What the worst and hardest experience you has been encountered? If you have unresolved back taxes that you had been ignoring for years then the Internal Revenue Service can put a bank levy to your bank account. With no money to withdraw from your bank, no food and no shelter, is it worst experience? You see bank levy is one of the many tools that the Internal Revenue Service have in order to get hold of the money that you owe to your unresolved back taxes.

If you are facing a bank levy then it all of your doing for the reason that before bank levy happen the Internal Revenue Service inform you of the impending bank levy and if you ignore their letter then their only option is to put your bank account under a bank levy so that they have the control of your money in order to settle your back taxes.

Legally, the Internal Revenue Service can levy your bank account if you ignore their demands of payments. The Internal Revenue Service use bank levy in order to collect your back taxes and your bank do not have a choice but to let the Internal Revenue Service get control of your money. However the Internal Revenue Service must assess the amount that they need to get to your bank account. The court will not allow the Internal Revenue Service to get all of your money especially if you need the money for basic needs such as food and utilities.

Once bank levy happen, it will be difficult to remove but there is one thing you can do, if the impending bank levy has not been put to your bank account you have 21 days to look for a solution in order to prevent bank levy to happen, for instance:

• Instalment plan or payment. This way you can enter an agreement to the Internal Revenue Service to pay your unresolved back taxes every month. Although you have to remember that penalties and interest are being added to your back taxes.
• Offer in compromise can help you reduce the amount of your back taxes or remove your back taxes for good but you need to have enough proof to prove that you need help in resolving your back taxes and stopping the bank levy to happen to your only resources of money.
• You can appeal your case to the court so that bank levy cannot happen to your bank account and you need the assistance of a tax attorney.

Owing the Internal Revenue Service can be a worst experience that can happen to you but if you settle your back taxes as soon as you receive the letter by asking for a tax relief then there is no bank levy. Face your back taxes by entering an agreement to the Internal Revenue Service in order to stop bank levy.