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Fighting against a bank levy or wage garnishment by the IRS

On Behalf of | Aug 16, 2018 | Internal Revenue Service

Most Massachusetts residents know that the IRS has quite a bit of power when it comes to collecting the taxes it believes an individual owes. If you have been subjected to the agency’s collection efforts, you may have a bank levy or wage garnishment filed against you. More than likely, these collection efforts put you in a precarious financial position. You may be able to stop these actions with the proper support.

If you receive a notice of a bank levy from the IRS, it means that the agency has told the bank to freeze your account. You will not have access to the funds in it during this time. At the expiration of 21 days, if you have not paid the taxes the IRS says you owe, it could seize the funds from your account to apply toward your debt. Due to the time sensitive nature of this collection action, you may want to seek the guidance and assistance of a tax law attorney as quickly as possible.

Like most Massachusetts residents, you need as much of your paycheck as you can get in order to meet your monthly financial obligations. The IRS wage garnishment may put you in a position of not being able to pay your bills, which would only increase your financial difficulties. That garnishment may be stopped immediately while you negotiate a better way to pay the debt the IRS says you owe.

Many people across the country have a hard time paying their taxes, and some of them may experience a wage garnishment or bank levy because they failed to address the situation quickly. The sooner that you take steps to resolve your issues with the IRS, the greater the chances are that you will be able to keep your money. This does not necessarily mean that you will no longer owe any taxes (although that is possible), but it may mean that you can work out a mutually acceptable payment arrangement.


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