1. IRS bank levies are NOT continuous.
The levy is a one-time event, locking up the funds in your account that were in there on that day for 21 days from the day that the levy posted.
2. You are free to deposit funds in the levied account.
You are free to deposit money in the account after the account is levied. Some small town banks (maybe one in 50 banks) do NOT understand this distinction, and may need to be educated about it. MYTH: a bank levy shuts your account down.
3. The funds frozen by the levy can be released!
If you do have money frozen from the bank levy - you can get those funds released. Call the bank and get a fax number so a "LEVY RELEASE" can be sent to them. Our firm can help you with the levy release.
For 30 years, WATAX has been solving every kind of tax problem. Call us at 1-888-282-4697 or email us a description of your tax issue and we'll contact you.
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