Articles Posted in Bank Levy

The IRS may seize all property and rights to property (except for exempt property), whether the property is real or personal, tangible or intangible, belonging to any taxpayer who neglects or refuses to pay back taxes, or any property on which there is a tax lien for payment of any tax.

Get professional IRS representation. Our firm represents taxpayers before all administrative levels of the IRS.

Please call us at 1-877-788-2937 or email us to schedule an appointment.

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Like a Ninja assassin, a bank levy strikes without a peep. How and when, no one knows. One day your debit/credit card will be working fine, but the next day your card will be rejected while making purchases or while trying to draw cash from the ATM. The IRS bank Levy can be quite devastating and can make normal life impossible; turning it upside down. A bank levy can be one of the harshest methods of collecting taxes used by the IRS. Should you ever face a bank levy it shouldn’t come as a surprise because the IRS gives a fair warning to individuals in advance that they plan on using this method.

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Timely tax payment is an important responsibility of every citizen and in the long run amounts to a better society with better amenities. Tax deductions from the salary do hurt and many resort to tax evasion as a way out. It must be understood that while tax evasion might appear as lucrative way out for a short term, it is definitely not the solution. Professional guidance from credible and reliable tax solution firms can come to the rescue at the critical point. These solution providers not only help in filing tax returns on time but also deal with wage garnishment and bank levy which IRS can resort to as means to bring the unpaid tax backlog to the defaulter’s attention.

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The CA FTB state tax agency has begun using information obtained through the Financial Institution Record Match (FIRM) program from banks and other financial institutions to find assets and collect on unpaid delinquent tax debts from California taxpayers. If you have outstanding FTB tax liabilities, your bank accounts may be levied by the FTB, and your wages could be garnished and levied.

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Taxpayers in Brooklyn, New York and Kings county can get IRS tax help, tax relief, tax problem resolution, 941 employment payroll tax help, and IRS tax audit help by calling 1-877-78-TAXES [1-877-788-2937].

IRS office serving Brooklyn, NY is located at 625 Fulton St., Brooklyn, NY 11201

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What is a Bank Levy?

A bank levy is a very serious incident and one that can cause great distress for you financially. This involves the IRS freezing your bank account. They can take everything that is in it. They don’t care if you have $5, $500, or $5,000. They don’t have to tell you that they are going to do it either.

The information for the bank levy goes right to the financial institution. As a result, you may write checks and then you don’t have any money to cover them. You may need to make a cash withdrawal and find out that you can’t access any of the money you thought you had in that account.

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Do you owe unpaid back taxes? There are tax relief solutions to your IRS tax problems.

The IRS could file a federal tax lien to protect the US government from the back taxes owed by the taxpayer. Although the federal IRS tax lien attaches to all the taxpayer’s property, some property is exempt from the IRS levy. The following items could be exempt from levy to some extent:

(1) wearing apparel and school books,
(2) fuel, provisions, furniture, and personal effects: up to $8,250 for 2010 ($8,370 for 2011),
(3) unemployment benefits,
(4) books and tools of a trade, business, or profession: up to $4,120 for 2010 ($4,180 for 2011),
(5) undelivered mail,
(6) certain annuity and pension payments,
(7) workers’ compensation,
(8) judgments for support of minor children,
(9) certain AFDC, social security, state and local welfare payments and Job Training Partnership Act payments,
(10) certain amounts of wages, salary, and other income, and
(11) certain service-connected disability payments ( Code Sec. 6334(a)).

If you owe back taxes, you should note that certain specified payments are not exempt from levy, wage garnishment and bank levy, if the Secretary of the Treasury approves the levy. Among the items so covered are certain wage replacement payments as specified at Code Sec. 6334(f).

If you’re seeking back taxes help, the IRS may not seize any real property used as a residence by the taxpayer or any real property of the taxpayer (other than rental property) that is used as a residence by another person in order to satisfy a liability of $5,000 or less (including tax, penalties and interest). In the case of the taxpayer’s principal residence, the IRS may not seize the residence without written approval of a federal district court judge or magistrate ( Code Sec. 6334(a)(13) and (e)). Unless the collection of the back tax is in jeopardy, tangible personal property or real property (other than rented real property) used in the taxpayer’s trade or business may not be seized without written approval of an IRS district or assistant director. Such approval may not be given unless it is determined that the taxpayer’s other assets subject to IRS collection are not sufficient to pay the amount due and the expenses of the proceedings. Where a levy is made on tangible personal property essential to the taxpayer’s trade or business, the IRS must provide an accelerated appeals process to determine whether the property should be released from levy ( Code Sec. 6343(a)(2)).

Also, if you owe back taxes, tax levies are prohibited if the estimated expenses of the levy and sale exceed the fair market value of the property ( Code Sec. 6331(f)). Also, unless the collection of the back tax is in jeopardy, a levy cannot be made on any day on which the taxpayer is required to respond to an IRS summons ( Code Sec. 6331(g)). Financial institutions, such as banks and brokerage firms, are required to hold amounts levied or garnished by the IRS for 21 days after receiving notice of the levy to provide the taxpayer time to notify the IRS of any errors or possible resolve their back tax matters ( Code Sec. 6332(c)).

Keywords: back taxes, back taxes help, stop IRS tax levy, stop wage garnishment, stop bank levy, payroll tax problems, IRS tax lien release withdrawal, tax relief, tax resolution services, IRS tax problem

We provide back taxes help in all 50 states including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.

Tax relief experts have a job pretty similar in nature to specialists of any other field. For example, if you are traveling on the road and suddenly your car breaks down due to a mechanical fault, you cannot fix it without the service of an expert mechanic, unless you possess such proficiencies. Likewise, when your IRS taxes get out of control due to financial problems, carelessness or any other reason, you need the help of a tax relief expert to carry on with your smoother journey of life. But there are many so-called experts you need to beware of, who are there only to take your money. Let us try to expose these scammers!

The American economic system relies heavily on the taxation system and this is why the IRS handles the individuals vehemently who try to evade taxes. However, in current cloudy financial circumstances paying taxes is not an easy job. If you have become a tax defaulter, need not worry because there are several legal ways out.

If you try to solve your IRS tax problems without the technical know-how expertise, it is just like trying to fix your broken car without the help of a mechanic and you will end up nowhere. If you do not want to waste your time and money, contact a reliable tax relief expert, as soon as you realize the tax problem. Procrastination will result in nothing but penalties and higher interest and you will be paying much more than the actual back taxes owed.

Is there a worse scenario than being haunted by the hostile IRS officers and you do not have enough money to pay back the taxes? Yes, if you fall a victim to fake tax relief experts. These scammers have interest in your money not in solving your problems. At the end of the day you will pay their huge fee, the whole tax amount plus penalties and interest.

The trustworthy tax relief experts usually offer free consultation before they take up your case. In this session you should ask them as many questions as you can, to assess their capabilities. If they are paying more attention to your money rather than your tax problem, go somewhere else to seek help.

On the other hand, there are honest and helpful experts who try to be as fair as possible as they know their client is in financial problems. These experts bear all the burden of representing you before the IRS, formulating the best solution for you and in the end, get you favorable results for a reasonable fee.

Mike Habib is an IRS licensed Enrolled Agent who focuses his tax practice on helping his clients resolve their tax controversy matters. His tax relief firm is rated “A” by the better business bureau, which is quite rare for this industry as many are rated “F” or already ceased business operations like American Tax Relief and Nationwide Tax Relief and possibly many more to come.

Do you have IRS tax problems?

Don’t procrastinate anymore; call Mike Habib at 1-877-788-2937 for a free analysis of your tax situation. There are solutions to your tax problems.

Tax relief services provided are:

 Stopping wage garnishments and tax levies,
 Stopping and releasing bank levies,
 IRS tax audit representation
 Filing delinquent and past due tax returns,
 Resolving back tax debts,
 Negotiated settlement agreements,
 Installment agreements you can afford,
 Offer in compromise settlements,
 Sales tax audit representation and sales tax debt settlements,
 941 payroll tax resolution,
 Penalty abatement services,
 IRS Revenue Officer matters
Don’t let the IRS ruin your life! Hire the reliable tax firm of Mike Habib; he has earned an “A” rating from the better business bureau.

Don’t fall for scams.

Get a confidential consultation today by calling 1-877-788-2937.

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How to Research Roni Deutch and other Tax Resolution Companies

Today I’m going to teach you a lesson. This lesson uses Roni Deutch as an example of what to look for when you’re in the market for a tax resolution company to help with your tax problems. Personally, I have nothing against Roni Deutch. Like a lot of other companies, Roni Deutch just happens to be in the same business as I am and that business is offering tax relief to individuals and companies who have tax problems including tax audits, unfiled tax returns, wage garnishment issues, payroll tax problems, IRS tax liens and other problems with the IRS.

Get to know the BBB

But that is pretty much where our similarities end. You see, unlike my company which has an “A+” rating from the Better Business Bureau (BBB), Roni Deutch has a rating of “F”. Now I don’t want to single out this company because during my many years in the tax relief business, I’ve seen a lot of my competitors end up at the bottom of the BBB rating scale. But unlike those tax resolution companies, I’ve been able to keep my business at or near the top of the BBB’s rating scale during those years in business.

Does this mean my business is better than Roni Deutch’s business?
Whether something is better or worse than something else is always a matter of opinion, and I’m not here to judge. What I am here to do is point out all of the information you can find on a tax resolution company before you enter into a contract with that company. Learning everything you can about the companies that offer help for your tax problems may be the single, most important step in the entire tax resolution process. Yet, many people skip this step.

It’s true!

I want people to stop doing this because it’s really not that hard. A lot of the information you can find on practically any company is free, including the information that’s reported by the BBB. And much of the information is reliable, especially information published by the BBB.

Using Roni Deutch again as an example, the BBB reports that 305 complaints have been filed against this tax resolution company. Among the complaints are 84 service issues, 80 issues involving a refund or exchange, 41 customer service issues, 38 contract issues, and more. The BBB also reports that the California Attorney General’s office has filed an action against Roni Deutch, allegedly for making untrue or misleading statements.

With so much valuable information about Roni Deutch and other tax resolution companies available on a single web site, I encourage everyone seeking tax debt relief or IRS tax audit representation, to check the BBB first before proceeding any further.

I hope you’ve enjoyed today’s lesson!

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