Bank Levy Release

If you have outstanding tax debt, we can help. We’ll work to save you money while resolving your debt with the IRS.

For those who have struggled to pay off their tax debt or who have not responded to notices about collections, the IRS might implement a bank levy. This is a process where the IRS can freeze your bank account and take funds directly from it. For many people, this is the worst-case scenario. It can be anxiety-inducing to think about your hard-earned money being taken directly out of your account and not being able to stop it. However, there are a few things you can do to get a bank levy release. First, if you have received a letter from the IRS with a notice of intent to levy, you should reach out immediately to a tax professional. At Solvent Tax Relief, one of our areas of expertise is in removing tax levies.

You can reach our team at 800.985.9426 to learn more about bank levy releases today.

How to Stop a Bank Levy

Before the IRS freezes and takes funds out of your account, they will send a notice of intent to levy. There are several things you can do to remove a tax levy.

Request an appeal or a collection due process hearing
Pay your debt in full
Demonstrate economic hardship
Enter into an installment agreement
Negotiate a bank levy release

A collection due process hearing can be requested during the 30 days after you receive notice that the IRS will be placing a levy on your bank account. During these 30 days, you can work with a tax professional to prepare any information that you need and work to negotiate a resolution with the IRS. In this type of hearing, you can discuss your options as well as dispute the amount that you owe. There is no need to wait until these final 30 days to appeal. Once you receive your first notice that the IRS is going to collect payment for your tax debt, you can schedule a hearing.

Negotiate a Bank Levy Release

Paying in full is one way to release a bank levy. For many individuals, paying in full is not an immediate option.

Another way to negotiate a bank levy release is to enter into an installment agreement with the IRS. Through an installment agreement, you will be able to pay off your outstanding tax debt over time through monthly payments.

If you can demonstrate that freezing your bank accounts and taking funds from them will place you and your family into economic hardship, you may be able to have the bank levy released. You will need to prove that it will not be possible for you to live on the remaining funds in your account. This could place you into currently not collectible status, which means that the IRS will not seek payment for the time being. Every year, you will need to prove that you should remain in currently not collectible status.

Contact Solvent Tax Relief

Whether the IRS is placing a levy on your wages or bank account or you’ve received notice that they will be placing a lien on your home or other property, Solvent Tax Relief can help. We know how challenging it can be to work with the IRS. Our goal is to help our clients find peace of mind as we resolve their tax issues. In addition to helping with bank levy releases, Solvent Tax Relief provides the following tax services:

Learn more about how Solvent Tax Relief can help with removing tax levies. Contact our team at 800.985.9426 today to find your path to freedom from tax debt.