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The Fundamentals of an IRS Bank Levy

July 13, 2011 by admin

A bank levy is a nasty tool the Internal Revenue Service has at their disposal to use against taxpayers they believe owe them money. The Internal Revenue Service issues a levy notice to the person’s bank.  This levy notice requires the bank to freeze the party’s assets for twenty-one days.  If, for any reason, the … Read more

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Can the IRS Garnish Your Paycheck? The Truth About The IRS Levy Process and How to Stop It

May 4, 2011 by admin

If you do not file a request for a Collection Due Process Hearing within 30 days from the date of Letter 1058, the IRS can levy your bank account, wages and other assets such as retirement accounts, to collect back taxes. What is a Levy? A levy is effectively a seizure by the IRS of … Read more

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