A bank levy is a legal seizure of all or parts of the funds in your bank account or property that you own. It may also entail a freeze on your accounts. Bank levies can happen for many reasons, however the two most common are due to unpaid taxes and unpaid debt.
If you do not pay your taxes or make arrangements to settle your debt, the IRS is entitled to seize any property. After the IRS has sent you a Notice and Demand for Payment and you have neglected or refused to pay the IRS sends a Levy Notice. They may seize these properties and sell them and then deduct them from your debt. They are also able to levy properties such as commissions, retirement accounts.
Act now, because if you wait too long your money and property will be seized. Once the IRS or Debtor places a levy on your property there is 21 days before they actually seize your property. The longer you wait the harder it will be to achieve the results you want. Our tax attorneys will help you avert the occurrence of levies, garnishments, and other collection activity.
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