If you do not respond or refuse to pay your tax debt, the IRS can freeze all or part of the funds in your bank account and seize your money to pay off the tax debt. A bank levy by the IRS is a one-time levy of funds in the account at the time the bank is notified. At the time of levy, the bank is instructed to freeze the account funds for 21 days, the funds are then sent to the IRS. It is important to act fast within this 21 day time period to avoid seizure of your funds. Additionally, under a taxpayer’s Collection Due Process Rights, you have the right to keep any and all funds necessary to pay for basic living expenses.
It is critical to hire an experienced Tax Relief Attorney in Los Angeles quickly to release a bank levy by the IRS to avoid seizure of your bank account. After assisting with release of your bank levy, we can negotiate a payment plan or Offer In Compromise. Please contact Delia Law in Los Angeles at 10880 Wilshire Blvd #1101 for a free consultation for tax resolution. You can do so either by completing our online form or by calling (310) 494-0100.