IRS Bank Levy

The IRS and/or state will start seizing your assets if they have no success in collecting your taxes in arrears. In other words, they impose a "levy" on you. The term "wage garnishment" is used when they start going after your wages. Using certified mail, they will give you either a ten, thirty or sixty day announcement stating that they are legally able to seize bank accounts, demand payment from accounts receivable, take control of property for auction, and assume title on vehicles. Almost anything of worth is fair game to be seized in order to bring your outstanding tax debt to neutral. Of all the collection methods, levies and wage garnishments are, by far, the most disabling and embarrassing for a taxpayer. The entire purpose for both is to make the taxpayer comply by forcing their hand. Luckily for you, Tax Relief Specialists has experienced professionals with years of lifting IRS levies and federal wage garnishments in lightening speed with a simple and worry-free process for our clients. Tax Relief Specialists is well aware of all the “ins and outs” of the IRS's restructuring and reform act of 1998.