Levy on Your Bank Account from IRS?

C.,

The IRS will not only levy your bank accounts, but they will contact your employer and garnish wages. Contact them ASAP and set up a payment plan!

I have lots of advice. I am just a regular sahm of 2 kids and I have to say - a levy can sometimes be a big surprise or no surprise at all. Often, a levy occurs after many months of the IRS attempting to contact you but to no avail. I did not see the letters because my husband had them and we were out of the country for most of the contact period. We were able to stop the levies after a single check garnishment. If you need more help email me at ____@____.com.

First, if you account has been levied and you were just notified, you have 21 days to address it with the IRS and get it resolved before the bank is required to send the money to the IRS. The bank will take whatever is in your account on THAT day. After 21 days, they send it the IRS unless the IRS releases the levy. If the amount they take doesn't satisfy the IRS debt, the IRS will issue additional levies (sometimes weeks/months apart) until the amount is paid OR until you work out a resolution with the IRS.

While I have not had my bank account levied, I am a CPA who works with clients who have (I have a tax practice where my goal is to make my services to my clients affordable). I would be happy to answer any additional questions you have if you want to email me priveately at ____@____.com of luck, S.

You need to contact them asap. If you call them & ask to set up a payment plan they will do it. Don't offer to pay a measly $15 a month though, they are looking for a fair payment. I would think at least $50 & be prepared to pay up to $200. Your payment really depends on how much you owe. We owed over $5000 & they wanted a $200 payment. The most important thing here is just communication, they are horrible but if you talk to them they can be a little decent. Send me a personal message if you want more details. Good Luck!

I had a letter from the IRS at one time and they had gone as far as contacting my payroll with my company. I called them and we worked out a payment plan and everything was good.
They are a kinder and gentler group now. Good Luck

How long has it been since your have filed?

T.

Seems you owe the IRS some money. You need to get a lawyer and try to make arrangements to pay off what you owe, or negotiate a lower payment.
In Texas, there are only three things you have no choice but to pay. Child Support, Student Loans, and Income Taxes. All three can garnish your wages but only the IRS can touch your bank accounts. All other debts can only bother the mess out of you, some even threaten to garnish wages and take your accounts, but they can't and it is illegal for them to threaten.

Hope this helps and Good Luck,

Liz M.