by Fresh Start Tax | Apr 11, 2013 | Tax Help, Tax Levy and Wage Garnishments
IRS Tax Levy Release – Former IRS Get Fast Results – Tax Levy’s Removed 1-866-700-1040
If the IRS has just sent a tax levy to your bank or to your employer contact us today for fast and immediate tax results.
We are comprised of tax attorneys, certified public accountants and former IRS agents, managers and tax instructors who know the complete system of how to obtain an IRS tax levy release and settle your case at the same time.
We have over 60 years of direct work experience at the Internal Revenue Service and the local, district, and regional tax offices of the IRS.
We have been in practice since 1982 and we are A+ rated by the Better Business Bureau.
There are very specific rules and regulations to get an IRS tax levy release.
To get your IRS tax levy release the IRS will require a fully documented 433 F.
That is the IRS version of the financial statement and you can find that form on our website.
In completing that form you will need to attach all documentation including bank statements, all expenses, and a current paystub to verify your current income. IRS will do a careful analysis and determine how they will close your case.
IRS will close your case with an installment or payment agreement, determine at the present time you have no ability to pay and put you into a currently uncollectible status , or suggest you are a candidate to file an offer in compromise.
Each one of these tax statuses will allow your levy to be released once you agree to the appropriate closing method by Internal Revenue Service.
I tell taxpayers to be very cautious about giving on IRS a financial statement because your are many tricks and traps within it. To get your best result in your fastest results is best to hire a professional tax firm. Being a former IRS agent I can tell you a professional firm will save you a lot of money in the long run.
IRS tax levy releases can come very quickly.
The key is have the information ready to go and get it faxed to IRS. If a client or taxpayer has the information the IRS tax levy release can usually be obtained the same day.
Where Does IRS Get there Levy Sources?
IRS Levy source data comes from a variety of sources, including:
1. Forms W-2 and 1099 information
2. States, credit bureaus, and other third parties.
3. The taxpayer, when requesting an installment agreement or during other contacts.
4. Partial payment checks submitted by the taxpayer.
5. Closed accounts from ACS Archives
These are just a few of the IRS levy sources.
For the following sources, take other action to enforce collection or to locate the taxpayer:
a. Insurance company levies for interest and dividends — Generally, this is due to interest or dividends paid on insurance policies with cash value. Delete these sources.
b. Dividends/distributive income – These require special processing better suited to revenue officers.
c. Bureau of Public Debt. These income sources are treasury bills and registered securities. Delete this source.
d. Foreign governments, U.N. employees, or companies/banks with addresses outside U.S. It does not matter where the taxpayer resides, but where the levy source is located. Also, never send levies to another country’s embassies, consulates, or missions, even if they are within U.S. borders.
e. Federal Contractor File (FCF).
f. Railroad unemployment or Railroad retirement income
g.Pensions and IRAs – Individual Retirement Accounts: No function will be given the authority to levy on lump sum pension/IRAs at the request of the taxpayer. It will only be allowed in “flagrant” situations. See IRM 5.11.6.2.
h. State Lotteries. –
i. State of Alaska, Permanent Fund Dividend (PFD) – The PFD is income to the taxpayer, but is only levied through the Alaska Permanent Fund Dividend Levy Program (AKFPD).
If you are looking for a quick and fast IRS tax Levy relief contact us today. Being former IRS agents we get fast and affordable results.
IRS Tax Levy Release – Former IRS Get Fast Results – Tax Levy’s Removed
by Fresh Start Tax | Apr 11, 2013 | Tax Levy and Wage Garnishments
Remove IRS Bank Levy – Former IRS Managers – End Bank Levy Today 1-866-700-1040
Call today and get your IRS bank levy released and your case settled with the Internal Revenue Service.
We are comprised of tax attorneys, CPAs and former IRS agents, managers and tax instructors.
Contact us today for get your IRS Bank Levy removed and your case settled.
All our work is done in-house by one of our tax professionals that you will find on our homepage.
We have released thousands of levy’s since 1982 and we are A+ rated by the Better Business Bureau.
Why the IRS will send a Bank Levy
If you do not respond to final notice 1058 letter sent out by the Internal Revenue Service, the IRS will send out a bank levy to any known sources or financial institution and where you have funds.
IRS gets the bank levy information from your tax return. IRS looks and examines any W-2s or 1099s that you have received from banks, financial institutions or other parties and uses those as levy resources.
A bank levy is much different than a wage garnishment levy.
A bank levy is a one-time seizure by the Internal Revenue Service.
It freezes the money the day the levy is received by the bank. By law, the bank is required to freeze that money for 21 days. It gives the taxpayer a three-week window to contact the IRS and actually get the bank levy released.
You can still use and operate your bank account during this period of time.
Only those funds frozen on the day the bank received the levy are held for the Internal Revenue Service. If you were to make a deposit the day after the bank received the IRS levy those funds still belong to you.
How to get your bank levy released
IRS in all reality IRS wants to take your name off their enforcement computer close your case. Yes, one less case off the books.
Before IRS closes a case off the enforcement computer it needs to have a closing method.
IRS uses therefore 433F, the IRS version of the financial statement to go ahead and make a determination on the closing method and remove the IRS Bank Levy
IRS will carefully review your 433F financial statement along with bank statements, pay stubs and copies of all expenses and analyze them against the national, regional and geographical standards to make sure you are living within the budget that IRS allows. You can find those national standards on our site.
After the review of the 433F, the IRS agent will explain to you one of three closing methods they will propose to close your case and release or end your bank levy.
As a general rule, your case will be closed due to an economic tax hardship, an installment payment or the suggesting of the filing of an offer in compromise.
You should contact us for more details on these three specific methods of closures.
This section contains information on enforcement, issuing Notices of Levy and requesting a Federal Tax Lien filing in the Automated Collection System (ACS).
The Internal Revenue Code (IRC) 6331 authorizes levies to collect delinquent tax.
Unless specifically exempt, any taxpayer property or rights to property can be levied. However, the IRS may generally only levy when the following requirements are met:
1. The IRS assessed the tax and sent the taxpayer a notice and demand for payment;
2. The taxpayer has neglected or refused to pay the tax within 10 days after notice and demand;
3. The IRS sent the taxpayer a Final Notice of Intent to Levy and Notice of Your Right to a Hearing at least 30 days before the Levy; and
4. No Collection Due Process (CDP) request is filed in response to the Final Notice of Intent to Levy and Notice of Your Right to a Hearing, or a CDP hearing is conducted sustaining the proposed levy.
IRS may File a Federal Tax Lien
Liens give the IRS a legal claim to a taxpayer’s property as security for the tax debt.
The Federal Tax Lien arises when:
1. the IRS assesses the liability,
2. the IRS sends the taxpayer a Notice and Demand for Payment, and
3. the taxpayer neglects or refused to fully pay the debt within 10 days after notification. When these three requirements are met, the “assessment” lien arises without any further action by the IRS.
IRC 6323 authorizes the filing of a Notice of Federal Tax Lien (NFTL) in the public records. By filing the NFTL, the taxpayer’s creditors are publicly notified that the IRS has a claim against all the taxpayer’s property and to all the taxpayer’s rights to property.
Filing the NFTL generally gives the IRS priority against other creditors and in bankruptcy proceedings.
What Are Levies and Liens
A levy is a seizure by the IRS of the taxpayer’s property to satisfy a tax debt.
A Notice of Levy is used by the Automated Collection System (ACS) to seize a taxpayer’s property, held by a third party, if it can be turned over by writing a check, e.g., a taxpayer’s bank account, wages, commissions, retirement benefits, or money received as a contractor.
A tax lien is a legal claim on an individual’s property for payment or satisfaction of a tax debt. It attaches to all property or rights to property the taxpayer has or acquires, whether real and personal, tangible or intangible.
The NFTL is a document filed in state recording offices to make the tax liability public and protect the IRS’s priority as against other creditors of the taxpayer.
For corporations, a lien may be filed with the Secretary of State, depending on state law.
Should you need professional tax help in resolving your IRS bank levy and settling your case contact us today. You will speak with someone on our professional staff who has an expertise in IRS resolution. We are tax experts on IRS tax and wage levies.
Remove IRS Bank Levy – Former IRS Managers – End Bank Levy Today 1-866-700-1040
by Fresh Start Tax | Apr 11, 2013 | Tax Levy and Wage Garnishments
End your IRS Tax Levy or Garnishment TODAY – Former IRS 1-866-700-1040
Call us today and end your nightmare of the IRS tax Levy or wage garnishment.
It is entirely possible to release your IRS Tax Levy today if you have the documents ready to send the IRS. This process is easy, fast, and simple.
We are comprised of tax attorneys, CPAs, and former IRS agents, managers and instructors. We are experts in both removing your tax levy or wage garnishment and settling your IRS problem once and for all.
We have over 60 years of working directly for the Internal Revenue Service in the local, district, and regional offices of the Internal Revenue Service and understand the complete workings and systems of the IRS in regard to the tax levy, wage garnishment and tax settlements.
We taught tax law at the Internal Revenue Service.
IRS can only Levy After these requirements are met:
IRS usually can levy only after these three (3) requirements are met:
1. The IRS assessed the tax and sent you a Notice and Demand for Payment; Form 1058
2. You neglected or refused to pay the tax and.
3. The Internal Revenue Service sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
You also must have received the IRS Tax levy by this method
IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.
IRS may also send a Notice of Levy on Your State Tax Refund.
It should be noted that IRS is only required to send any billing notices to your last address filed on the last tax return filed.
What is required to Remove or Release your IRS Tax Levy
Before the Internal Revenue Service will end the IRS tax levy or a wage garnishment they will need a current, accurate, and documented financial statement.
IRS will require form 433-F.
Once completed by the taxpayer or tax professional it is to be sent and verified to the ACS unit of the Internal Revenue Service.
An IRS agent or reviewer will go ahead and review the financial statement to make sure it is accurate and all the information is filled out correctly. They the agent will make a determination on how to both close the case in release the IRS levy or wage garnishment.
Contrary to popular belief the IRS does not want to send the IRS tax levy or the wage garnishment out.
It must do so because taxpayers have failed to comply with the last bills and notices that IRS sent the taxpayer asking them to contact them to resolve the matter.
As a result of the IRS must send the levy out if no contact has been made by the taxpayer. The Internal Revenue Service after analyzing the financial statement will probably close case in one of three ways.
Holding Periods for the IRS Bank Levy
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.
If the bank receives no release, it must send the payment after the holding period.
No additional notice is required.
Three closing methods used by the IRS to close your case and end your tax levy
1.IRS may determine that at the current time you cannot afford to pay them and they will place your case into an economic tax hardship.
2.IRS after reviewing the financial statement the IRS may decide you can make a installment or payments based on the national and geographic standards.
3. IRS may determine that you are offer in compromise or a tax debt settlement candidate and prompt you in filing the offer.
The Continuous Effect of Levy on Salary and Wages IRS Form 668-W
Unlike other levies, a levy on a taxpayer’s wages and salary has a continuous effect.
It attaches to future payments, until the levy is released. Wages and salary include fees, bonuses, commissions, and similar items.
All other IRS tax levies only attach to property and rights to property that exist when the levy is served.
There is a very specific system used by the Internal Revenue Service to releasing or removing the tax levy.
Call us today for free initial tax consultation and let us help you and your nightmare with the Internal Revenue Service.
We can put an end to your IRS tax Levy, bank seizure or get your wage levy release. End your IRS Tax Levy or Wage Garnishment TODAY – Former IRS
by Fresh Start Tax | Apr 11, 2013 | Tax Levy and Wage Garnishments
Releasing Tax Levy from the Internal Revenue Service – Fast, Easy, Affordable 1-866-700-1040
We can get your levy released and settle your case.
If you are looking to release a federal tax levy from the Internal Revenue Service call our office for a free initial consultation you will find the process fast, easy and very affordable by IRS tax experts who been practicing for 206 years in the industry.
We also were past employees of the Internal Revenue Service for over 60 years and are now in private practice.
We have released thousands of levy’s since 1982 and successfully settled many cases. We are a full service tax firm.
What is necessary to release a federal tax levy
Like everything else with the Internal Revenue Service there is both a system and a process to release an IRS tax Levy.
A current financial statement
IRS will require a current financial statement along with complete documentation. IRS will require that you send or fax this information to the ACS unit within the Internal Revenue Service.
Our recommendation is that you call the Internal Revenue Service and have documents ready to fax the agent on the other end of the phone.
IRS will require a completed 43 3F financial statement. ( this form is on our website )
IRS will want all documentation at supports that statement to be faxed directly to them. Included will be the last 3 to 6 months worth of bank statements, your current pay stub, and any monthly expenses that you incur or want to take credit for.
IRS will then apply your monthly expenses against the national/ geographic averages in your region.
IRS wants to make sure you’re living within the region or geographical budgets allowed by the Internal Revenue Service. If you are not sure about this you should call our office for further explanation because the last thing you want to do is to call the Internal Revenue Service and not be sure on the way your case is going to be worked or the rules that apply.
There are several trick questions IRS will ask you and that’s why many times it is best to hire a professional tax firm to resolve the releasing of your tax levy.
Tax Resolution
Once IRS has a current documented and accurate financial statement IRS has three categories that they can put your case into.
IRS can put you into a current economic tax hardship in which your case will stay with in the system for three years, it will incur penalties and interest but IRS will pretty much leave you alone.
IRS may ask that you enter into an installment or payment agreement because your income is higher than the national standards for your region.
IRS may accept the filing of an offer to compromise and decide to release it your tax levy.
Once you agree with the Internal Revenue Service on the closing method of your case the IRS will then either send or fax or mail the levy directly to the bank or to your employer. It is always best for you to have the fax number of the party that has the direct authority to both received a levy and give the funds back to you.
If IRS does not agree to release the levy there are other available tax options.
You can file a CAP request or ask for an independent reviewer to review your case.
If IRS is taking a hard-line stance make sure you are not bullied by them.
Contact us today and get fast quick and affordable results for releasing a tax levy from the Internal Revenue Service.
We are comprised of tax attorneys, CPAs and former IRS agents managers.
We are friendly, affordable, and trustworthy.
by Fresh Start Tax | Apr 10, 2013 | Tax Levy and Wage Garnishments
STOP the IRS Bank & Wage LEVY NOW – IRS Tax Attorneys, Former IRS – Affordable 1-866-700-1040
Call us today and find out how we can stop an IRS bank levy or wage garnishment levy. The process is a simple one and based on our years of experience we can get the Bank or Wage tax levy released as fast as anybody in our professional business.
Having worked for IRS for over 60 years gives us an edge. We know the exact protocols the exact formulas any exact system IRS employees to stop the IRS bank and wage levy.
The process is a simple one.
IRS will want a current financial statement, a 433F. IRS will want that financial statement completely documented with all income, expenses and must also include bank statements and pay stubs. IRS will apply your income and expenses against the national standards.
The IRS national standards are used in every geographic region in the United States. The sole purpose of IRS using the national standards to make sure that taxpayers are living within their means.
You will not get IRS to stop a bank or wage levy and less the aforementioned process is followed.
Once IRS reviews your financial statement and make sure you have filed all your tax returns IRS will then place your account in one of two statuses.
Based on your current financial statement and documentation IRS will either place you into an economic tax hardship or enter you into an installment or payment arrangement.
For those who qualify for an IRS tax debt settlement called an offer in compromise, the IRS may release the levy as well based on the filing of your offer in compromise
Stop IRS Wage Levy Continuous Effect of Levy on Salary and Wages
Unlike other levies, a levy on a taxpayer’s wages and salary has a continuous effect.
It attaches to future payments, until the levy is released.
Wages and salary include fees, bonuses, commissions, and similar items. All other levies only attach to property and rights to property that exist when the levy is served.
If a bank account is levied, it only reaches money in the account when the levy is served.
It does not reach money deposited later.
When other income is levied, the levy reaches payment the taxpayer has a fixed and determinable right to. If the taxpayer’s right to that payment is not dependent upon the performance of future services, then the levy will reach the future payments as well.
IRS Tax Levy’s on Royalties
A Form 668-A is issued to levy an author’s royalties. The author has a fixed and determinable right to royalties for books that have already been published.
The levy reaches royalties for sales of those books in the future. The levy does not reach royalties for books that are written and published later.
A new levy must be served to take those royalties.
IRS Levy on Retirement Income
A Form 668-W is issued to levy a taxpayer’s retirement income. The taxpayer has a fixed right to the future payments; therefore, the levy remains in effect until it is released.
Holding Period.
IRS Bank Levy
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.
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.
Bank Liaison
The holding period was created to settle disputes about ownership of bank accounts before money is sent.
Assign a bank liaison in each territory 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.
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.
Wrongful Tax 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.
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.
Call us today and speak directly to tax attorneys, CPAs and former IRS agents who can get fast and quick results in stopping in IRS Bank wage levy.
STOP the IRS Bank & Wage LEVY NOW – IRS Tax Attorneys, Former IRS – Affordable
by Fresh Start Tax | Apr 10, 2013 | Tax Levy and Wage Garnishments
IRS Levy Rules, IRS Levy Notice – Get Levy Releases – Former IRS 1-866-700-1040
So you got an IRS tax levy? You are not alone.
Last year the IRS sent out 3.8 million bank and wage garnishment tax levies to taxpayers.
The IRS sends these levies out by a completely automated driven ” Data System” called the CADE 2.
They follow a strict set of standards when sending Bank or Wage Garnishment levies out. If they say the federal tax levy is being sent, it will be sent.
Not a human hand touches these levies as they are all automated.
You may ask, how do they know where to send the levy?
You have given them that information.
Your tax return is the source of the IRS levy information. On your tax return is income information from 1099 and W-2 wage sources.
The IRS simply sends the levies out to those sources on your tax return. There is no CSI investigation or a blanket sweep of banks. Just your income tax return.
The IRS sends all taxpayers at least 4 notices that you owe tax. The last notice is called the Intent to Levy. You will have 30 days to respond to this notice or bill.
Your next step.
Before you call the IRS, serious thought should be given to hiring a professional tax firm that has extensive IRS experience. Do not use a tax mill. A tax mill is a major company that hires sales persons that get a commission to bring your case into the company they work for. Before you hire a firm ask to speak directly to the person that will handle your case and question them on their IRS work experience.
The next thing you need to do is to make sure all tax returns are filed and current.
If they are not filed, ask the IRS for more time to get your returns in. The IRS will not close out your case unless all tax returns are filed.
Next, fill out a 433-F, an IRS financial statement. Be prepared to document the financial statement.
The IRS will want total proof of all income and expenses listed.
Big Caution– the IRS uses the national standards tests for every location in the United States. They will ask for your income and allow the national standards for your area. They will subtract your expenses from your income and if there is a surplus, that will be your monthly payment to the IRS. If your expenses outweigh your income, your case can be put in hardship.
If you are not sure about this process, call a tax professional to walk you through this. It is the most important part of the process in closing your case.
The IRS will probably close your case with the following ways.
1. filing of an offer in compromise,
2. a part payment agreement or,
3. your case could be put in hardship.
IRS NEW LEVY RULES
A levy is a legal seizure of your property to satisfy a tax debt.
Levies are different from liens. A lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt.
If you do not pay your taxes or make arrangements to settle your debt, the IRS may seize and sell any type of real or personal property that you own or have an interest in. For instance,
The IRS could seize and sell property that you hold such as your car, boat, or house,or
IRS could also could levy property that is yours but is held by someone else such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions.
IRS usually levy only after these three requirements are met:
1. IRS assessed the tax and sent you a Notice and Demand for Payment;
2. You neglected or refused to pay the tax and,
3. IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
How the Levy is given to you
IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.
Call us today to learn more about the new IRS levy rules or IRS levy notices.
We can get fast and quick results of IRS levies.
Contact us today and we will review your case for free. We are comprised of tax attorneys, CPAs and former IRS agents and managers.
We have an A+ rated by the Better Business Bureau and been in private practice since 1982.
IRS New Levy Rules, IRS Levy Notice – Get Levy Releases – Former IRS
