Fresh Start Tax 1-866-700-1040 Same day levy releases.
Fresh Start Tax can get you a same day levy release. We need to make sure all your tax returns are filed and need a completed 433-F with documentation.
An IRS Federal tax levy is a legal seizure of your property to satisfy a tax debt. Levies are different from tax liens. A tax lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt.
What can IRS Levy
1. The IRS could seize and sell property that you hold (such as your car, boat, or house.) This happens on a 668A form.
2. The IRS could levy the following property: your wages (668W,) retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance or commissions.
3. The IRS can levy social security and disability.
What does it take for the IRS to send a tax levy out to me?
1 . The IRS assessed the tax and sent you a Notice and Demand for Payment. This sometimes comes certified.
2. If you neglected or refused to pay the tax.
3. The 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. The 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. Please note: if they levy your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
How can I get a release of the Federal Tax Levy
1. If you paid all you owed before the IRS sent the levy notice,
2. If the IRS assessed the tax and sent the levy notice when you were in bankruptcy, and subject to the automatic stay during bankruptcy,
3. The IRS made a procedural error in an assessment,
4. The time to collect the tax (called the statute of limitations) expired before the IRS sent the levy notice. This is 10 years from the date of the assessment,
5. You did not have an opportunity to dispute the assessed liability,
6. You wish to discuss the collection options. This is the best way for an immediate release. Call Fresh Start Tax and we can usually get these releases within one day.
7. You wish to make a spousal defense.
When will my levy end?
If the IRS levies your wages, salary, or federal payments, the levy will end when:
1.The tax levy is released,
2. You pay your IRS tax debt, or
3. The time expires for legally collecting the tax. 10 years after the assessment date.
4. Have Fresh Start Tax call the IRS and get you a levy release.
If the IRS levies your bank account, your bank must hold funds you have on deposit, up to the amount you owe, for 21 days. This holding period allows time to resolve any issues about account ownership. After 21 days, the bank must send the money plus interest, if it applies, to the IRS. To discuss your case, call the IRS employee whose name is shown on the Notice of Levy. A wage garnishment is a continuous levy. It Never stops .
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