Help individual or a business stop, release bank levy from the IRS or state tax agency

IRS-FTB-EDD-CDTFA-BOE Bank Levy Tax Relief

What is a bank levy?

Are you a Los Angeles taxpayer, or a business that got notified of a bank levy? Want to stop and release the levy? Let’s start our discussion with what is meant by an IRS Levy, the term levy is the legal seizure of any property or asset that you hold or have an interest in so that a tax debt you owe to the IRS can be satisfied. This can be bank accounts in or outside of Los Angeles, other business assets and much more. When the IRS, FTB, EDD, CDTFA, BOE has determined that a bank levy is its best course of action in order to satisfy your tax debt, they have the authority to do so and do not need to seek a court order to proceed.

Legal Notification and help to release and stop your bank levy

While the IRS has the authority to use its levy power, it must, however, send you a Final Notice of Intent to Levy and Your Right to a Hearing letter. If you have received this letter you must reply if you hope to avoid the levy being enforced and the IRS seizing your bank accounts to secure payment of the tax debt that you owe.

Get help to release your bank levy today 1-877-788-2937.

In 1988 as part of Taxpayer Bill of Rights I, Congress passed section 6332(c) which requires banks to hold the proceeds subject to a bank levy for 21 days. The purpose of the 21 day holding period is to give joint account holders time to come in during that period and prove to the IRS that some or all of the money in the bank account belongs to them rather than to the taxpayer.

The notice of bank levy only reaches the amount on deposit when the levy is received. Money deposited later is not surrendered, including deposits made during the holding period. Another levy must be served to reach these funds. Also, the bank levy only reaches deposits that have cleared and are available for the taxpayer to withdraw. The bank may not reduce the amount it pays to the Service by a bank processing fee or any other fee. The Service’s view of the bank’s duty to locate accounts under various names can be seen in I.R.M. 5.11.4.10.1.

IRS Stats:

Taxpayer delinquent accounts: 14,005,000, that is over 14 million taxpayers with unpaid back taxes

Notices of federal tax liens filed: 446,378 just in 2017

Notices of tax levies issued: 590,249 just in 2017

What steps the IRS takes before it resorts to a bank levy

Contrary to popular opinion, the IRS does not resort to draconian measures to force business taxpayers to comply with their demands that you pay them for a tax debt. There are three distinct steps that they must do in order to be able to use its levy authority. While it has the legal authority to levy bank accounts based on the IRC 6331 or Internal Revenue Code 6331, it must do the following three things first:

● The IRS has determined that the tax debt is owed by you and has sent you a Notice and Demand for Payment letter
● You did not pay the debtor refused to comply and pay the debt
● They have sent a Final Notice of Intent to Levy and Your Right to a Hearing letter and 30-days has passed.

As you can clearly see that while the IRS does have the ultimate power to seize any and all assets (except those that have been exempted to rules) in order to satisfy a tax debt, they do in fact use it only as a last resort.

IRS-FTB-EDD-CDTFA-BOE Bank Levy Tax Relief

Can a bank levy be released or stopped? Get help today!

Under certain circumstances an IRS bank Levy once enforced can be released, but only after certain requirements have been determined to have been met. The following is a list of the things that can lead to having an IRS bank levy released:

● You actually paid the amount that you are being asked to pay
● The period of collection ended before the levy was enforced
● You need the levy released in order pay the tax debt
● You have agreed to an Installment Plan with the IRS to pay back the tax debt
● The levy has created an actual hardship on you and your family as determined by the IRS, FTB, EDD, CDTFA, BOE

It is extremely important for you to realize that just because the IRS bank levy was released or stopped, it does not mean that you are free from paying back the tax debt that you owe. It simply means that it recognizes that the levy was not the best course of action in your case.

Get help to release and stop your bank levy today 1-877-788-2937.

Our boutique tax representation firm led by Mike Habib serves and helps individual and businesses in greater Los Angeles, Santa Monica, Beverly Hills, Whittier, Pasadena, Lancaster, Long Beach, Santa Ana, Irvine, Newport Beach, Orange County, Inland Empire, San Bernardino, Upland, Claremont, Rancho Cucamonga, Fontana, Ontario, Corona, Riverside, we offer the best nationwide bank levy defense service.

Client Reviews
★★★★★
Mike has given us peace of mind! He helped negotiate down a large balance and get us on a payment plan that we can afford with no worries! The stress of dealing with the IRS is huge and Mike helped us through it all. The peace of mind is invaluable, thank you Mike!April S.
★★★★★
Mike Habib - Thank you for being so professional and honest and taking care of my brothers IRS situation. We are so relieved it is over and the offer in compromise process went just as you said. Mike is very professional and will give you honest answers to the OIC process and you can really trust him. You won't be sorry you chose him!Joe and Deborah V.
★★★★★
Mike is a true professional. He really came thru for me and my business. Dealing with the IRS is very scary. I'm a small business person who works hard and Mike helped me see that they are not that scary after all. He was always there with the answers I needed and was very good about calling me back which I appreciated since your first reaction is to freak out and ask a million questions. He solved a messy case and worked very hard to resolve it. His rates are VERY reasonable for the amount of work he does! I give him my highest recommendation!Marcie R.
★★★★★
Mike was incredibly responsive to my IRS issues. Once I decided to go with him (after interviewing numerous other tax professionals), he got on the phone with the IRS immediately (as in the same day I signed with him) to squash an impending issue. And he worked directly with them to quickly come to a resolution I am very happy with. I'd highly recommend reaching out to Mike to see if he can help you with any IRS issues. I'm very satisfied!Marshall W.
★★★★★
I’ve seen and heard plenty of commercials on TV and radio for businesses offering tax help. I did my research on many of them only to discover numerous complaints and unresolved tax issues. I found Mike Habib through my own online search and contacted him. He was very professional with great communication, always answering my questions and concerns. Mike resolved my complicated tax problem just as he said he would. I would definitely recommend his services to family and friends.Nancy & Sal V.

BBB Accredited Business
Trust Link
California Society of Enrolled Agents
NAEA
NATP
Enrolled Agent