Tax Settlement How it works - Get IRS Tax Relief Free Consultation

Sept. 25, 2010 - PRLog -- Taxes, I am sure you are like me and do not like paying them, but it is required by law. If you choose not to pay your taxes, you will become subject to an IRS bank levy.

Get IRS Tax Relief Free Consultation - http://www.debtconsolidationcc.com/tax-relief.html

Don't Let The IRS Levy Your Money

A bank levy is when the IRS lawfully goes into your bank account and takes out your finances in order to pay your IRS tax debt. This is one of the fastest and easiest ways for the IRS to compel back taxes and in fact is the number one way the IRS collects taxes. The only option for the bank is to let the IRS into your bank account. If the bank doesn't allow the IRS, they will seize the banks funds that they could have received if they would have levied your account.

How A IRS Bank Levy Works

Before the IRS can levy your bank account they must give you a tax bill to pay. But if you don't pay or agree on a payment plan and don't hold up your end of the bargain, they will send one final notice of plan to levy your funds. When you are getting served with the bank levy, you will not find out until after the levy is complete. Usually you will notice that your money has been frozen. The money will remain frozen for 21 days until the IRS seizes the funds. Many times the IRS does not seize the entire amount from the bank account to satisfy the entire outstanding tax amount, so they may use bank levies in the future if they see additional funds in any of your bank accounts.

You're Options

Trying to stop the IRS from a bank levy usually isn't an easy process. If they have already frozen your account, it will be tremendously difficult to prevent the IRS from collecting the back taxes from your account. If you knew about the levy a head of time, you would have a better chance of stopping it. Previously mentioned, you never know until after the fact. If you are lucky, the IRS didn't collect all the taxes owed in the first seizure. Then there are certain actions that can be taken to prevent them from using a bank levy a second time. You would need to contact the IRS, and work with them. Confess your problems and set up a tax settlement agreement. This is something you can try to do yourself or contact a professional IRS tax relief specialist (recommended route to take, less headaches).

If you have unpaid taxes, the consequences can be extremely bad for you. To prevent the IRS from levying your bank account; you should take action as soon as possible. If you feel overwhelmed dealing with IRS, find a reputable tax settlement company to assist you.

Get IRS Tax Relief Free Consultation - http://www.debtconsolidationcc.com/tax-relief.html

# # #

http://www.debtconsolidationcc.com help improve your credit score and bring you a debt free life. You can obtain free debt consolidation and settlement advice, free credit report and credit repair, stop foreclosure, IRS tax relief help and more.