by Fresh Start Tax | May 13, 2013 | Tax Help, Tax Levy and Wage Garnishments
IRS Bank Account Levy Help, Former IRS – Stop IRS Bank Levy, Affordable 1-866-700-1040
If you have received an IRS bank account levy and need immediate tax help please contact us today and speak directly to former IRS agents, managers and tax instructors.
We have over 206 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service and the local, district, and regional tax offices of the Internal Revenue Service.
We have a 21 day window in which to get the money back from the Internal Revenue Service in full.
A Bank Cannot turn the money over to the IRS right away, they must wait.
There is a Holding Period for a IRS Bank Account Levy.
A bank must wait 21 calendar days after a levy is served before sending payment to the IRS.
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.
A “Bank” includes credit unions, savings and loan associations, trust companies, and others described in IRC 408(n) and Treas. Reg. §301.6332–3(b).
If the bank receives no release, it must send the payment after the holding period. No additional notice is required.
What is a IRS Levy or Garnishment
A levy is a legal seizure of your property to satisfy a tax debt.
IRS Tax Levies are much 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. A levy is an actual seizure of assets.
If you do not pay your taxes the IRS may seize and sell any type of real or personal property that you own or have an interest in.
IRS could seize and sell property that you hold such as your car, boat, or house or
the Service 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).
What is required for an IRS bank account levy to be released ASAP
To get an immediate release of an IRS bank account levy a taxpayer will be required to give IRS a current financial statement.
That financial statement will be turned over to IRS on form 433-F.
That financial statement will need to be fully documented along with all copies of pay stubs, bank statements and a verification of all expenses. The Internal Revenue Service will review your financial statement and determine which of three closing categories that you will be placed into.
The Internal Revenue Service may place you into an economic tax hardship, IRS may recommend a payment or installment agreement or let you know that your are a suitable candidate for a tax debt settlement offer in compromise. Your financial statement will dictate the closing method that will be used by the Internal Revenue Service.
That is why it is critical to turn to an IRS tax professional to prepare, to contact the IRS, and to make sure the closing method IRS wants to invoke suitable to your current financial condition.
Rules of Bank Account Levies : IRS usually levy only after these three requirements are met:
- The IRS assessed the tax and sent you a Notice and Demand for Payment,
- You neglected or refused to pay the tax and
- 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.
IRS has options on methods of service.
- 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.
IRS can 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.
Notes about a Release of Levy
A bank account levy release does not mean you are exempt from paying the balance.
The IRS will work with you to establish payment plans or take other steps to help you pay off the balance.
If you do not like the results from the IRS Agent, Appeal
You may ask an IRS manager to review your case, or you may request a Collection Due Process hearing with the Office of Appeals by filing a request for a Collection Due Process hearing with the IRS office listed on your notice.
You must file your request within 30 days of the date on your notice.
Some of the issues you may discuss include:
- You paid all you owed before we sent the levy notice,
- The IRS assessed the tax and sent the levy notice when you were in bankruptcy, and subject to the automatic stay during bankruptcy,
- IRS made a procedural error in an assessment,
- The time to collect the tax (called the statute of limitations) expired before we sent the levy notice,
- You did not have an opportunity to dispute the assessed liability,
- You wish to discuss the collection options.
IRS Bank Account Levy Help – At the conclusion of your hearing, the Office of Appeals will issue a determination.
You will have 30 days after the determination date to bring a suit to contest the determination. Refer to Publication 1660 (PDF), for more information.
You also may ask the manager to review your case for IRS Bank Levy Help.
If the matter is still unresolved, the manager can explain your rights to appeal to the Office of Appeals.
Levying Your Wages, Federal Payments, State Refunds, or Your Bank Account
If we levy your wages, salary, federal payments or state refunds, the levy will end when:
a. The levy is released,
b. You pay your tax debt, or
c. The time expires for legally collecting the tax.
Information about a Bank Liaison
The holding period was created to settle disputes about ownership of bank accounts before money is sent.
Sometimes ownership is not settled before the holding period ends. If this happens, ask the bank for more time.
Amount that Must be Surrendered for a IRS Bank Account Levy
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 Distraint , for legal authority to levy. However, it must send no more than the amount shown on the notice of levy.
IRS Bank Account Levy Help, Former IRS – Stop IRS Bank Levy, Affordable
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 steve | Sep 13, 2011 | Representation, Tax Help
Let former IRS agents and managers who have a combined 60 years of direct IRS work experience resolve your IRS tax problem today.
We are the affordable tax experts.
Fresh Start Tax LLC 1-866-700-1040 Since 1982 Affordable IRS Tax Experts A Plus Professional Tax Firm “A” Rated by the Better Business Bureau
We can provide immediate and permanent tax relief from any IRS problem you may have. Former IRS Agents/ Supervisors know how to get it done.
Being former IRS Managers and Instructors we know all the tax codes, tax practices and tax strategies to get immediate tax results.
We are comprised of Board Certified Tax Attorneys, CPA’s and former IRS Agents, Managers and Instructors who have over 205 years of professional tax experience and over 60 years of working directly for the IRS in the local, district and regional offices of the Internal Revenue Service.
Call us for a no cost professional tax consult.
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
See our Home Page for more details Thank you
Tax Relief – IRS Problems / Help – Affordable Tax Attorneys, CPA’s, Former IRS Agents
by steve | Sep 12, 2011 | Representation, Tax Help
Get Fast Affordable Tax Relief from Former IRS agents, today
Fresh Start Tax L.L.C. Since 1982 Affordable Professional Tax Firm IRS Tax Experts “A” Rated by the Better Business Bureau
Get immediate IRS tax relief with true professional tax representation. We have resolved thousands of cases since 1982.
We have over 205 years of professional tax representation and over 60 years in the local, district and regional offices of the Internal Revenue Service.
We can get IRS Problems resolved quickly and we are very affordable. Call us for a no cost professional tax consult.
We taught Tax Law at the IRS and as a result we know all the tax procedures, tax policies, and settlement directives put out by the IRS.
Areas of Professional Tax Practice:
- Same Day IRS Tax Representation
- Offers in Compromise or IRS Tax Debt Settlements
- Immediate Release of IRS Bank Levies or IRS Wage Garnishments
- Tax Relief from a IRS Bill, Letter or Notice of “Intent to Levy”
- IRS Tax Audits
- IRS Hardships Cases or Unable to Pay
- Payment Plans, Installment Agreements, Structured agreements
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll / Trust Fund Penalty Cases / 6672
- Filing Late, Back, Unfiled Tax Returns
- Tax Return Reconstruction if Tax Records are lost or destroyed
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
See our Home Page for more details Thank you
by steve | Jul 20, 2011 | IRS Tax Advice, Tax News
Tax Attorneys and Former IRS Agents can get immediate removals of IRS Tax Levy’s.
Fresh Start Tax L.L.C. Since 1982 IRS Tax Experts A Professional Tax Firm “A” Plus Rated by the Better Business Bureau
If you are in need of immediate relief from a bank or wage levy call us today so you can start the process of immediate tax levy relief.
You will be served by either Board Certified Tax Attorneys, CPA’s or Former IRS Agents, Managers or Instructors who have over 205 years of total tax experience and over 60 years of working directly for the IRS in the local, district and regional offices of the IRS.
We taught Tax Law at the IRS and know all the tax formulas and settlement strategies to get you immediate and permanent tax relief from tax levies.
Call true Tax Experts. Do not hire a tax mill, you will be ripped off.
Areas of Tax Practice:
- Immediate IRS Tax Representation
- Offers in Compromise/ IRS Tax Debt Settlement
- Immediate Release of Bank Garnishments or Wage Levies
- IRS Bill/Notice of “Intent to Levy” or Final Notices
- IRS Tax Audits Small and Large Dollar
- Hardships Cases / Unable to Pay
- Payment Plans, Installment Agreements
- Innocent Spouse Relief
- Abatement of Penalties and Interest
- State Sales Tax Cases
- Payroll/ Trust Fund Penalty Cases
Our Company Resume: ( Since 1982 )
- Our staff has over 205 years of professional IRS tax representation experience collectively
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- Former IRS Managers, Instructors and Trainers
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed to practice in all 50 States
- Certified by the Internal Revenue Service
- Nationally Recognized Veteran Former IRS Agent
- Nationally Recognized Published Tax Expert
- As heard on 90.3 FM Monthly Radio Show-Business Weekly
How we immediately get Notices of Bank Levy and Bank Garnishment Released.
As former IRS Agents, Managers and Instructors we have issued thousands of IRS Wage/Garnishment and Bank Levies. We know exactly how to quickly get them released. We have what it takes.
1. We immediately send a power of attorney to the IRS letting them know we are now your representative. You will never have to speak to them.
2. We will make sure all your tax returns are filed and current. If your tax returns are not up to date, the IRS will refuse to work your case. This is leverage that they use to get you compliant. We can pull tax transcripts, file and prepare your tax returns within days, even if you have lost your tax records.
3. The IRS requires a current financial statement. We will secure a required 433-F (IRS financial statement), verify the income and expenses and work out a settlement agreement. The IRS will require a closing settlement method for each case.
4. We review with our clients how they want to settle their case. We get them an agreement based on their current financial needs.
Settlement agreements can be in different forms:
a. Hardship Settlements. Cases usually go into a 3 year suspended status because of an inability to pay. This is also called currently noncollectable. Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs the IRS uses for the lowest possible amount required.
c. Offer in Compromise. There are three types of OICs:
The IRS may accept an Offer in Compromise based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC. To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
