June 23, 2015 by Jay Freeborne

If you ignore a back tax debt owed to the IRS, they levy. Period.

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, Washington Tax Services, can help you with the levy release.

After you get the fax number for your bank - then please call us: The Staff of Washington Tax Services can be reached at 1-888-282-4697 or email us your situation HERE and we'll call you.  

Call and talk with a tax expert for free:
(888) 282-4697

or email us now