How To Deal With Irs Bank Account Levy

How to deal with IRS Bank Account Levy

by

Manny Vetti

Did you forget to pay your taxes on scheduled time or even disregarded your tax obligation to Uncle Sam? The result is now in front of you. You have lost your access to your own account. The IRS has levied your bank account with their strong tool IRS bank account levy. Many US residents know what IRS bank account levy is and how it affects the bank account. Hence, the reason behind your bankruptcy is simple; you forget to pay your tax amount on time and IRS bank account levy will take away your money.

The IRS bank account levy is one powerful tool made by the US government to collect the entire unpaid tax amount from those who have missed or refused to pay tax on time. Interestingly, this IRS bank account levy does not need court permission and can seize not only the bank account but also any property that belongs to the person who failed to pay tax. However, before doing anything, a notification comes to that person, informing them about the time when the IRS bank account levy will take place and a per the Fifth Amendment of the US Constitution, the person is given a thirty days time either to pay or to request hearing to the government. That thirty days period is the only time when you can prepare yourself to fight back and save your hard-earn money from going to the pocket of the US government.

Steps to Fight against IRS Bank Account Levy:

First, seek advice from a professional tax consultant who knows all the practical details of the process of tax payment and can guide you through the situation. When that is done, with the advice from the consultant you can try a few ways, which have been proved successful to stop the IRS bank account levy. Some of the very effective and tested measures are:

1. State your Financial Condition: the first way to stop the IRS bank account levy is to write a letter to the government mentioning your poor financial status. To validate what you wrote, send some evidences and request them to forego the levy as you will not be able to meet the standards of basic living if the money taken.

2. Bargain and Settle: to reach a settlement point with the IRS is something difficult for a common person. However, with the help of a professional tax consultant your problem can be sorted. You can make a payment of the whole money at one go and save your account from the IRS bank account levy.

3. Come up with Different Payment Plan: If you can promise to make monthly and on time payment of your due, then also the IRS can think to stall bank account levy.

The process for appealing of tax levy can be a long one and futile too. Yet if you want to save your money, you need to try with positive thinking and seek professional help to minimize the duration of the process.

IRSBankLevy.com helps you get over with the

IRS Bank Account Levy

in a most proficient way. To recover the money levied by the IRS and to get assistance of our professional tax consultants, contact us.

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How to deal with IRS Bank Account Levy