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Ronald Cutler, P.A. Ronald Cutler P.A.
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Fort Lauderdale IRS Bank Levy Attorney

Of all the government agencies, the Internal Revenue Service (IRS) is one of the largest and most powerful. The IRS is responsible for overseeing all tax issues in the country, and for ensuring that taxpayers pay their taxes on time, or they will face serious penalties. People try to evade, or avoid paying, their taxes, but sometimes, an innocent mistake or misunderstanding results in an error.

If you currently owe taxes, the IRS has a number of tools available to them that can help them recover the debt. One of these tools are bank levies, which can cause a great deal of financial strain. If you worry this action may be taken against you, or it already has, our Fort Lauderdale IRS bank levy attorney can help with your case.

What is an IRS Bank Levy?

The term ‘levy’ refers to the seizure of property. Usually, levies are used when one person or company is trying to obtain money owed from another person. Many people confuse the terms ‘levy’ and ‘lien’ and sometimes even use them interchangeably. There is a difference between the two, though. A lien is only a legal claim on property to secure payment of a debt. For example, a contractor may place a construction lien on a home if the homeowner does not pay for work completed. A levy, on the other hand, actually seizes property to repay a debt.

An IRS bank levy then allows the IRS to seize funds in your bank account when trying to recover the tax debt. The IRS is also allowed to levy actual property you own, such as your home.

Notification of an IRS Bank Levy

If you currently owe taxes and are concerned about an IRS bank levy, the good news is that it will not happen without your knowledge. Before the IRS can seize any of the funds in your bank account, they must notify you of their plans to do so. This includes sending you three notices in total, and they are as follows:

  • Notice outlining the amount of taxes you owe, which must include any late fees, interest, or other penalties, along with when it is due
  • Notice informing you that the IRS has requested payment of the taxes but you have not provided it, and
  • The final notice, which the IRS must send a minimum of 30 days before they seize any of your property.

Our IRS Bank Levy Attorney in Fort Lauderdale Can Protect You

If you cannot pay the taxes you owe, an IRS bank levy will place a great financial burden on you. At Ronald Cutler, P.A., our Fort Lauderdale IRS bank levy attorney can help you avoid this penalty by explaining the legal options available to you. Our seasoned attorney can help you create a repayment plan, negotiate for a debt settlement, or take other action to give you the best chance of a favorable outcome. Call us now at 386-490-9949 or contact us online to request a free consultation and to learn more.

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