Finding A Solution For Bank Levy Actions Due To Irs Back Taxes

By Author: New Hope Tax
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When you are facing a bank levy for IRS back taxes, you will find that there are very few options. The IRS back taxes can create a significant problem for you when they place a bank levy on your banking account, effectively freezing the account and taking control of the money that is currently in the account.

Finding a solution to release the bank levy and still satisfying the IRS back taxes can be tricky. To get through the process effectively and quickly release the bank levy, it will be necessary to obtain the services of an attorney to help you through the process. There are many solutions that are available to people who acquire legal representation that may not be offered to those without an attorney.

A bank levy effectively freezes the money that you have in your bank account, making it inaccessible regardless of the circumstances. Additionally, if you have outstanding checks or payments that should be made, it can stop those from being processed as well, creating even more problems for you. Having your account frozen can stop you from doing many things even in just one day.

Back taxes are very ...
... serious. When you find yourself unable to pay the taxes that you owe, you should immediately begin working on a solution. Do not wait until the IRS back taxes end up with a bank levy placed on your account. Once the bank levy is in place, it can be removed by working through a process with your attorney, but it will not be immediate in most cases.

When you owe IRS back taxes, there are many possible remedies that may be sought by the government. In addition, unlike other organizations, the IRS does not need a court order to levy your bank account or garnish your wages. Because of this, you may find one day when you go to make a withdrawal from your bank account that you are unable to do so due to a levy for IRS back taxes.

Owing the IRS back taxes can create a substantial financial burden for a family, especially today in these trying economic times. When you find that you are unable to pay the money owed, you should work to immediately find a solution that will be satisfactory to both parties. You should not wait until the IRS goes after your home, your bank account, your wages before trying to solve the problem.

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When you are in a position of owing the government money, you may think your situation is hopeless. However, many different options may be available to you. When you contact an attorney at www.newhopetax.com, all of the available options will be explained to you. These will include ways to stop wage garnishment due to a tax lien and other issues such as back taxes that might arise. Contact them today for more information.