Back Account Frozen by the IRS – Get Levy Release ASAP by Former IRS Agents  1-866-700-1040

 
 
If your bank account has been frozen by the Internal Revenue Service call us today to get a fast and quick resolution and get your release of bank levy by the Internal Revenue Service.
You want to consider the use Fresh Start Tax LLC because we have over 206 years professional tax experience, over 60 years with the Internal Revenue Service and we are A+ rated by the Better Business Bureau.
We have been in private practice since 1982 and have released thousands of levies.
We can make this a very easy process of unfreezing your bank account and settling your case.
We are comprised of former IRS agents and managers with 60 years of working directly for the Internal Revenue Service at the local, district, and regional tax offices of the  Internal Revenue Service.
As a result of our years of experience at the IRS, we know the exact systems, the exact protocol, and the exact settlement formulas necessary to get your money back in your hands and settle your case as well.
 
 

There is a very specific process to get your frozen bank account funds released and back in your hands.

 
 
The IRS sends bank account levies out to taxpayers because they have failed to address notices and bills that were sent out to taxpayers at the last known address.
The unfortunate part,  many taxpayers because they have moved never received the last bill or notice. Also many times fear shuts taxpayers down from dealing with their IRS issues. That’s where we come in we can help overcome those fears and get your life back in order.
 

To Get Your Bank Account Release

 
To get your bank account unfrozen and get the money back in your hands the IRS will need to close your case off the enforcement computer.
IRS will require a 433-F which is the IRS version of a financial statement.
Along with the financial statement IRS will need complete and accurate documentation as to the correctness of the financial statement. IRS will need your last pay stub, your last three months of bank statements, and also a copy of all your monthly expenses. IRS will conduct an analysis as to how they believe your case should be closed. IRS will use the national and local averages to determine the allowable expenses.
As a general rule, IRS will close your case in one of three fashions.
1. IRS will determined by your financial statement that you are right now in an economic tax hardship and you’re unable to pay IRS at this time. Within the IRM there are provisions to shelve your case for two or three years because you are currently noncollectable.
2. IRS may say that you could make an installment or make payment arrangements because of your present income at the time.
3. IRS may also let you know that you are a suitable candidate for an offer in compromise or a tax debt settlement.
Once the taxpayer agrees to a closing method the IRS will send a notice of release to the bank that has your account frozen.
 
 

Holding Period for Bank Levies

 
 
A bank must wait 21 calendar days after a levy is served before sending payment.
Then, on the next business day, it must turn over the taxpayer’s money. The depositor(s) can waive this waiting period.
The bank will not send money that is subject to attachment or execution under judicial process.
“Bank” includes credit unions, savings and loan associations, trust companies, and others described in IRC 408(n) and Treas. Reg. §301.6332–3(b).
During the holding period, a levy might be released, or the amount owed could decrease.
Note:
If the bank receives no release, it must send the payment after the holding period. No additional notice is required.
Consider the holding period when deciding how long to project the accruals on a bank levy.
 

Role of the Bank Liaison

 
 
The holding period was created to settle disputes about ownership of bank accounts before money is sent.
A bank liaison in each territory is usually assigned to settle these issues quickly.
Sometimes ownership is not settled before the holding period ends. If this happens, ask the bank for more time.
 

Multiple Signature Authority for a Bank Account

 
 
A levy served to a bank attaches to funds in a bank account for which the taxpayer has an unrestricted right to withdraw funds (signature authority) – even if multiple persons have signature authority for that bank account.
As noted in Treasury Regulation 301.6332–1(c)(4) the unrestricted right to withdraw funds is an interest which is subject to levy.
 

Examples of this are the following

 
 
A bank is served with a notice of levy for an unpaid tax liability due from the taxpayer in the amount of $2,000. The bank holds $2,000 in a checking account in the names of a taxpayer and a third party.
Although all of the deposits into the account were made by the third party, the taxpayer has an unrestricted right to withdraw the funds from the account. The bank may send the Service the entire account balance at the end of the 21 day holding period.
The bank is not liable to the third party for any amount, even if the third party proves that the funds in the account did not belong to the taxpayer, because the taxpayer’s unrestricted right to withdraw the funds is an interest which is subject to levy.
The third party may, however, seek the return of the funds from the United States by making an administrative wrongful levy claim under IRC 6343(b) or file a suit under IRC 7426(a)(1) should the administrative claim be denied.
 

A wrongful Levy 

 
A non-liable third party may claim ownership of funds in a bank account when multiple people hold signature authority for that bank account. Treat this dispute as a potential wrongful levy.
A wrongful levy is a levy that improperly attaches property belonging to a third party in which the taxpayer has no rights.
See IRM 5.11.2.2.2, Wrongful and Erroneous Levies, for the procedures to follow in these situations.
Reminder: For bank levies if additional time is needed beyond the 21 day hold period to determine ownership, request the bank hold the funds. Provide the potentially wrongfully levied party a deadline date for providing substantiation and provide the bank with a specific extension date to forward the funds.
Reminder:
Provide the potentially wrongfully levied party Form 4528, Making an Administrative Wrongful Levy Claim Under Internal Revenue Code (IRC) Section 6343(b)
 

Amount that Must be Surrendered

 
 
The bank must send the amount in the taxpayer’s accounts. A bank levy attaches to any property or rights to property that belong to the taxpayer or on which there is a Federal tax lien, unless it is exempt. See IRC 6331, Levy and Distrait , for legal authority to levy. However, it must send no more than the amount shown on the notice of levy.
Note:
By law, banks cannot immediately honor the IRS levy. See IRM 5.11.4.1, Holding Period, for guidance on the holding period after a bank levy.
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Bank Account Levy only attaches to the date the money is received.

 
 
The notice of levy only reaches the amount on deposit when the levy is received. Money deposited later is not surrendered, including deposits during the holding period. Another levy must be served to reach this money.
Also, the levy only reaches deposits that have cleared and are available for the taxpayer to withdraw.
Levy proceeds must not be reduced by any fee charged by the bank for processing the levy.
 
 
Back Account Frozen by the IRS – Get Levy Release ASAP by Former IRS Agents