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Stopping an IRS levy on a bank account requires you to take proactive steps to address a tax matter before there is an imposed garnishment of your assets. Waiting to stop an IRS tax levy once the government files a notice of intent is the wrong time to address your outstanding tax situation. Once the process begins, you will have a limited amount of time before the garnishment will happen.
Addressing a Tax Liability
Generally, when a tax liability is outstanding with the IRS, a notification will be sent indicating the amount due and the steps that are available to address the situation. Do not ignore this information because it is an attempt by the IRS to mediate the liability. This opportunity should be seen as a chance to review your records to determine the validity of the tax liability and if owed, do your best to negotiate payments or have the account discharged. Remember that you will be subject to punitive action, which includes an IRS tax levy and garnishment of your wages and bank account.
Seek Professional Assistance
Consult a tax attorney or accountant who has experience working with the IRS. If you are in a financial situation that does not permit the use of an outside professional, look for free tax services that may be available in your community or a legal aid society. You should not attempt to represent yourself before any matter concerning the IRS. Using an attorney or accountant will help determine the extent of your liability and work to solve the issue.
