The Importance of Responding to a Bank Levy

Levies and Liens are two different heads of the same beast. A lien is the government’s legal claim used as security for a tax debt. A levy is the government’s legal seizure and sale of your property to satisfy a tax debt.

Unpaid taxes or the negligence to make arrangements to settle the debt with the IRS may indeed lead to a levy on real or personal property. Below are some examples:

The IRS can levy property you own like a car, boat, or house
The IRS can levy property that you own but is held by someone else like wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, cash loan value of life insurance, or commissions

It’s important to act swiftly regarding a bank levy before it’s too late. Having it released is of the upmost importance in order to secure your finances. There are different approaches to having a bank levy released. Each approach is determined based on your tax and financial status. It’s also important to remember that the IRS much rather resolve your tax issue with them rather than levying your bank account.

By contracting with Spectrum Tax Relief to help resolve your bank levy, it shows the IRS that you are serious about resolving your tax debt. Let our expert team of tax professionals turn a scary and complex situation into one that allows a smooth transition into tax debt relief.

Spectrum Tax Relief, LLC

19800 MacArthur Blvd.,
Suite 300
Irvine, CA 92612-2440

Toll Free: (888) 407-3775
Local: (949) 577-7958
Fax: (866) 300-0081

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* Estimates based on prior results; individual results will vary based on circumstances, including your ability to provide Spectrum Tax Relief, LLC, with information that is accurate and timely. We do not guarantee that your tax debts will be lowered by a specific amount or percentage, that your tax debt will be paid off within a specific period of time or guarantee you will qualify for any IRS programs. Penalties and interest will continue to accrue until your tax liability is paid in full to the IRS. Spectrum Tax Relief, LLC is a tax resolution firm independent from the IRS. We do not assume tax debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice. By providing your contact information, you expressly consent to receiving calls and/or SMS text messages at the number you provided as part of our service offerings, including but not limited to advertisements, solicitations, and service updates. The phone number belonging to the called/messaged person(s) could incur charges for such contact. Read and understand all program materials prior to enrollment.

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