The IRS has tremendous power in collecting tax debts. The IRS can garnish your paycheck in the amount of 75% of your net pay and can seize your property. They not only can freeze your bank accounts but they can seize all the money in your bank accounts too. There is no special permission needed to freeze your account. If you owe money, the IRS can take it. You will immediately lose access to your account – unable to withdraw money, write checks, or make payments on your mortgage, car, or other loans.

In these cases, you may qualify for a levy release. The IRS is required to release a levy if you meet any one of the following:

• You paid the amount you owe,
• Releasing the levy will help you pay your taxes,
• You enter into an Installment Agreement and the terms of the agreement don’t allow for the levy to continue,
• The levy creates an economic hardship, meaning the IRS has determined the levy prevents you from meeting basic, reasonable living expenses, or
• The value of the property is more than the amount owed and releasing the levy will not hinder the ability of the IRS to collect the amount owed.

As you can imagine, the best pay to stop a levy is to prevent one in the first place! If you have unpaid taxes, you should consult with us immediately so that you can avoid a levy entirely! There are a number of ways you can avoid a levy. We can explain your options to you.

If, however, you didn’t consult us first and the IRS has frozen your bank account or garnished your wages, you may need a levy released. We can help with that too.

Call now to schedule your free consultation so we can start you on your path to relief or request a free copy of our book, The Essential Tax Resolution Survival Guide.