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How to have a tax levy released in Parkchester, NY

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Education & Training with Miller Tax & Advisory Services

The primary focus of my firm is tax representation in Parkchester, NY. Once a taxpayer has been levied (only after ignoring IRS notices numerous times), their next step is to seek assistance of a tax professional to release the levy. Since the IRS didn’t have any success collecting on the outstanding tax debt, they know a levy will get the taxpayer to respond. They are no longer interested in speaking to the taxpayer the tax professional would need to intervene and work out a deal with the IRS going forward.

In order for the tax levy to be released, the IRS will need the taxpayer to be in compliance, but the levy may have already caused a financial hardship for the taxpayer. In this case, the tax professional would have to communicate with a Revenue Officer on the taxpayer’s behalf to get a garnishment lifted or release funds from the bank account to relieve the taxpayer of the financial hardship. The Revenue Officer may choose to only allow just enough funds to be released to cover the taxpayer’s rent, mortgage or household emergency, but may keep the rest to satisfy the debt. The bank holds the funds for a period of time until it is given the authority from the IRS to release a portion allowable for the taxpayer to access. This process can be very uncomfortable for a taxpayer, but that is the purpose of a levy.

If you or anyone you know may be facing a levy soon, please feel free to contact me at (917) 708-1097, or email me at millertax.ea@gmail.com.

 

Gail Miller, EA

Miller Tax & Advisory Services

P.O. Box 967

Parkchester, NY 10462

Ph. (917) 708-1097

www.millertaxadvisorysrvcs.com

Comments (1)

Richard Weeks
Dallas, TX
REALTOR®, Broker

Congratulations on your recent sale.  Nice house and nice job with your presentation.

Dec 18, 2020 03:47 AM