Fresh Start Tax -1-866-700-1040 Get your IRS Bank Levy Released Today
The IRS gives you a 21 day period to get your IRS Bank Levy Released. Use it to your advantage.We can get the tax levy released.
Tax Law:
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.
