Bank Account/Accounts Receivable Levies

When the IRS has been unable to collect back taxes from a taxpayer, it begins to seize assets and property.   When the IRS acts to seize the balance in a bank account, the action is called a “levy.”

After providing a 30-day notice by mail, the IRS is legally allowed to take bank account balances, levy accounts receivable, auction properties or homes, and tow away vehicles. Virtually any asset or any item of property can be taken away by the IRS to satisfy back taxes (except hand tools and/or a personal computer).

IRS levy notices that are sent to employers or customers can be the most embarrassing of all IRS collection efforts.  Besides collecting tax, the levies effectively force taxpayers to come forward, or risk not paying their other bills.

… beyond education, what my clients appreciate and value most is the experience and understanding I gained as an IRS field agent. John Balian, J.D., M.S. Tax  –  Principal

Balian & Company staff members have years of experience in releasing levies. Depending on the type of levy, we usually need only 3 to 10 business days to release a levy.