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What To Do if the IRS Levies your Bank Account in Richardson TX
Our firm frequently represents taxpayers in Richardson, TX, and other areas of Texas, who have had the IRS levy their bank accounts. The result of doing so can create chaos in the lives of those taxpayers and a high level of stress with not knowing what is coming next. When these taxpayers come to us, our first priority is to have the levy removed if possible, and then to assist the taxpayers in resolving the issue which caused the levy, and bring an end to their problems.
Bank Levies are one-time levies. A one-time levy means that the IRS gets only one shot at the taxpayer’s bank account per levy action. For example, if the balance in the account is $200 today when the levy is served, and tomorrow there is a $10,000 deposit into the account, the IRS gets $200, the amount on the day the levy was received. The only way for the IRS to get additional money from this bank account is to serve another levy.
Why Does the IRS Levy the Taxpayer?
Luckily for taxpayer, the IRS does not one day just decide to levy the taxpayer. By the time the account is levied, there have been several notices sent ... more
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