Release of Levies

Wage Levy – Wage levy rules vary, but essentially the IRS takes a portion of your paycheck each pay period, and contributes the amount levied toward paying off your tax debt. Once a wage levy is sent to your employer, the employer is legally required to collect a large percentage (usually 30-70%) of the taxpayer’s paycheck and send it to the IRS. The wage levy stays in effect until the IRS is fully paid or until the IRS agrees to release the levy. The IRS wage levy is a very powerful tool and can be financially crippling to the taxpayer.

Bank Levy – Has the IRS sent a levy to your bank, leaving you unable to pay your bills, your rent or mortgage, your car payment or to feed your family? Once the IRS sends notice of a bank account levy there is a very short time to act and protect your money. Your bank will freeze the money in your account for 21 days, giving you just 3 weeks before the bank is forced to send your money to the IRS. Since your bank account is frozen, any outstanding checks will not be paid and will be sent back to the payee, which may result in more fees and bigger problems.

ProTect Law Group’s Tax Attorneys are well-versed in presenting the financial proof necessary to obtain a levy release. If the IRS has already started enforcement action through these powerful collection tools, call us today and speak to one of the Tax Attorneys. There still may be an opportunity to release the levies and negotiate a payback plan on your terms.

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