You can get immediate release of a bank levy by preparing to call Internal Revenue Service with all relative information. You must be prepared to fax that information to a one 800 number.

As a former IRS agent and teaching instructor many taxpayers receive a nasty gram from Internal Revenue Service, they find out that the IRS has either sent out a tax levy

There is never a good time but it always seems to happen at the worst times, always.

The best thing you could possibly do is talk to a professional tax firm that can go over the various options that you have.

It is important that you understand the system and to know that a bank levy garnishment or a wage garnishment is not going to go away until Internal Revenue Service is contacted.

IRS sent the bank levy or the wage garnishment levy because taxpayers have failed to contact them. Sadly, many taxpayers have never received prior bills or notices because they moved and the notices never found their way to be opened.

Before IRS may issue a bank levy is required to send out the following notices.

IRS sends out a series of 4 to 6 letters depending on the case, the dollar amount, the type of delinquency and have formally requested demand for payment on the back taxes.

If the Internal Revenue Service received no correspondence or no call the Internal Revenue Service through their computerized system will issue a bank levy or wage garnishment notice.

 IRS cannot levy until it sends out required notices, they are as follows:

Required Notices

1. Before property can be levied, the taxpayer must be given a
• Notice and demand
• Notice of intent to levy, and
• Notice of a right to a Collection Due Process (CDP) hearing
.

After these notices have been sent out to the IRS computerized system that allows IRS to take the next step to formally issue a bank levy or wage garnishment notice.

The Internal Revenue Service keeps all W-2s, 1099s, and all third-party income sources on a computer in which they draw upon to issue IRS bank levies or wage garnishments. The Internal Revenue Service keeps his income source list for six years.

So, now the ball is put in your court, you are not going to receive another paycheck and IRS has just frozen your bank account for 21 days so what is the next step.

The Internal Revenue Service will be waiting for you to contact them and give them information so they can literally close your case off the IRS enforcement computer.

What IRS is waiting before they can release a bank or wage garnishment:

Please keep in mind that you can get an IRS wage or bank levy garnishment released usually within 24 hours of contact the Internal Revenue Service with all required documentation.

The Internal Revenue Service does not wish to take your money from a bank account work take your wages it only does so because taxpayers have not complied with federal and government regulations. It is used as a last resort and only because taxpayers have failed to contact the IRS because of the tax debt.

The IRS has certain procedures through their internal revenue manual that dictates what the next step will be systems before they will release a bank or wage garnishment notice.

They are as follows:

1.IRS will completely review your current financial statement,

2.IRS knows all your tax returns are filed, and after this is done,

3. IRS is willing to close your case off of the IRS enforcement computer and issue a notice of release of the wage or bank levy garnishment.

What You Should Do NOW:

It is in your best interest to contact a professional tax firm to set up a current tax strategy and exit strategy and to develop a plan to get your levy and wage garnishment immediate released.

The Internal Revenue Service will review your financial statement on form 433 a or 433F before they will make a determination on your case. It is their primary document they use to handle all open IRS collection cases.

The financial statement is the key

The filling out, the completion, and the sending out to Internal Revenue Service is the key to not only getting an immediate release of a bank levy or wage garnishment notice but settling and closing your case.

The Internal Revenue Service will make sure all documentation is received to make sure the correctness and accuracy of the financial statement.

IRS will also require for verification:

1. The last 3 to 6 months bank statements,

2.copies of pay stubs,

3. copies of all bills for the last 3 to 6 months, and,

4. more importantly they will evaluate your current living expenses to that against the national, regional and local standards.

IRS will evaluate your house and utility expenses, your car expenses, your medical expenses, and any monthly bills that you have.

All bills in expenses must be within the IRS current standards to be acceptable to the Internal Revenue Service.

The bottom line, IRS will review your current financial statement and usually make one of three determinations on how they will close your case off the enforcement computer and at the same time issue a release of bank levy or a wage garnishment notice.

Upon IRS receiving all the documentation on the financial statement IRS may determine to put you in:

1. a currently non-collectible hardship status,

2. ask you to enter into a monthly installment payment or,

3. maybe encourage you to file an offer in compromise because you meet certain qualifications to settle your tax debt to the offer in compromise program.

Can you do this yourself, well I can’t fix my own car I hire a mechanic so basically it all depends on your skill level, confidence and knowledge of the system.

Call us today for a free initial tax consultation we will walk you through the process of getting an immediate release on your wage or bank levy garnishment.

As a general within 24 hours of receiving your current financial statement we can get an IRS wage or bank levy garnishment released immediately.