If you’ve been avoiding those letters from the IRS, then you might have missed the one that came via certified mail entitled “Final Notice of Intent to Levy and Notice of Your Right to a Hearing”. If you did, then you probably don’t know that the IRS is getting ready to forcibly take the money that you ‘owe’ right out of your bank account!
Yes it is true! The IRS has the right to get the money that you owe in back taxes. While they have several ways to do this, their favorite by far is freezing your bank account and taking the money from there. You have to act fast… you only have 21 days after your account is frozen to appeal the bank levy.
Million dollar question… Can you stop an IRS Bank Levy? Once you receive that final notice, the IRS is going to get their money unless you take action. If you think the amount owed is in error, you will have to prove it. As far as the IRS is concerned you are guilty until proven innocent.
Request a Hearing: Immediately fill out a form requesting for a Collection due Process Hearing (Publication 1660). This will slow down the Bank Levy. Hopefully you did this before the account was frozen. The hearing will determine if the IRS’s collection process is appropriate. Make sure that you are requesting the hearing for a valid reason, though. If the IRS decides that you did to put off paying your taxes, they can prosecute you for a frivolous hearing!
Be Prepared! Make sure that you prepare yourself for the hearing. This is the time to confront the IRS with the ‘error’. It will be up to you to provide adequate documents to prove your case. Be sure to also come up with another payment option to help resolve your tax debt just in case the IRS was right.
Hurry Up! Take it from a former IRS-Hitman… If you owe the IRS money, or even if they say you do and you are disputing it, you need a professional on your side ASAP! I have personally levied bank accounts including: 401k, CD’s for kid’s college funds, and even savings bonds! Trust me, the IRS will leave a person in complete financial ruin because they failed to respond.
Give me and my team a call at 1-888-415-1337, fill out the form to the right, or e-mail me if you need help stopping a Bank Levy.
