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Tuesday, August 9, 2016

The IRS is threatening to levy my bank accounts!!

The IRS is threatening to levy my bank accounts!!!!

If you owe money to the IRS, they can seize the money in your bank accounts and apply it to your past due balance. Depending on how much you owe, they could literally take every dollar that you have in your account. So what can you do about it?

If you have gotten to the point where the IRS is threatening to levy, you may want to consider getting professional representation. Phoenix Financial Group has an A+ rating with the Better Business Bureau. All cases are worked by a licensed tax professional. Their phone number is (888) 572-2179. 

Before the IRS can levy your bank account, they would have had to send notices to your address of record. These notices will state that they intend to levy on certain assets. The first round of IRS enforcement typically is just levying any known bank accounts. Once the bank receives the levy notice, you have a short window of time to get the levy released. Bank levies are not continuous in nature, meaning that once the levy has hit, that is it. The IRS would have to send another levy notice to the bank to attach to more funds. There are several ways to get a levy released including appeals and working with an IRS Revenue Officer. 

The tax professionals at Phoenix Financial Group are experts in all the ways to fight IRS enforcement action. Additionally we can help protect you and your assets, so that the IRS does not levy again. 

Getting into compliance with the IRS is always the first step in resolving a past due tax debt and to getting IRS Bank Levies lifted. Phoenix Financial Group has licensed tax professionals who can file your outstanding returns so that you qualify for resolution options like: Installment Agreements and Offers in Compromise. 

If you are receiving threatening letters from the IRS, now is the time to act. If you don't want a professional to handle your case, call the IRS directly at (800) 829-1040. 

If you want to protect your assets including your wages and bank accounts, call Phoenix Financial Group at (888) 572-2179.