| You've been caught! So the IRS has finally caught up | | | | have any assets. |
| with you and your back taxes. They have enforced a | | | | Make it Stop! So now that I've told you a little bit about |
| bank levy on your account and now you can't access | | | | what a bank levy is, how can you stop it? Well take |
| your money. Now what do you do? You have bills that | | | | these tips from a former IRS-Hitman; I know just how |
| need to be paid and every day living expenses that | | | | to hit them back with full force. First, it's important to |
| have to be met. Read ahead and find out what to do | | | | make sure that you deal with it right away. You only |
| if this happens to you: | | | | have 21 days before the IRS takes all the money in |
| Bank Levy 101! A Bank levy form the IRS is a | | | | your account. Second, contact the Taxpayers |
| common occurrence. Essentially, the IRS freezes your | | | | Advocate in your area and prove economic hardship. |
| banking account, preventing you from access any of | | | | You need to fill out some paperwork, but by working |
| your money. Your bank is required by law to comply | | | | with a Taxpayers Advocate, a bank levy can actually |
| with the levy and hold all funds that have been | | | | be lifted. |
| deposited into your banking accounts. This means that | | | | Put yourself to the Test: The end of your tax issue is |
| you checking and savings accounts are affected and | | | | not over just yet. Next, you will be assigned a revenue |
| you will not be able to withdraw any funds. | | | | officer (an IRS Hitman.) He will look at your individual |
| Act Now! You have exactly 21 days to seek help for | | | | case and determine whether or not you are able to |
| your IRS tax problems. If you are unable to get the | | | | pay the back taxes. The Revenue Officer will also |
| help that you need in this 21 day period, the bank is | | | | look to see if there are other options available to you. It |
| required to send your money and any applicable | | | | is important to sit down with the professionals and |
| interest fees to the IRS. They will continue to take | | | | figure out your best course of action; otherwise, an |
| money from you until the debt is paid. They will also | | | | IRS Hitman will come and take your property right out |
| liquidate your property/assets if the debt is not paid | | | | from under you! |
| with the bank account funds. If not taken care of | | | | Now you have the smoking gun...Use it! |
| quickly, your credit will be ruined and you will no longer | | | | |