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Can the IRS Take Money Out of Your Bank Account? IRS Bank Levies Explained!

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Logan Allec

Call 8668000TAX or visit https://choicetaxrelief.com/freetax... to book your FREE tax relief consultation!

The IRS can take money out of your bank account via an IRS bank levy. Yes, this is true whether you have a checking account or a savings account! However, there are certain rules and legal requirements the IRS must follow and adhere to before it can legally take money out of your bank account. I explain all of these things in this video. I also tell you what you can do to STOP an IRS bank levy once it's been served to your bank!

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Table of Contents:
0:00 Can the IRS Take Money Out of Your Bank Account?
0:48 How to Know if Your IRS Bank Levy Is Proper or Improper
2:30 First Notice IRS Must Give You: Notice and Demand Under IRC § 6303
4:21 Second Notice IRS Must Give You: Notice of Intent to Levy Under IRC § 6331
6:49 Third Notice IRS Must Give You: Notice of Opportunity for Hearing Before Levy Under IRC § 6330
8:24 Should You File a CDP Hearing After Receiving the Letter 11 or Letter 1058?
8:46 CDP Hearing vs. Equivalent Hearing
10:02 Giving You Proper Proper Notice Is a Legal Requirement the IRS Must Meet Before Levying You
10:41 How Does an IRS Bank Levy Actually Work? What Happens?
10:54 IRS Form 668A(c)(DO)
12:08 The IRS Can ONLY Levy the Amount in the Bank Account When the Levy Was Served!
13:57 The 21Day Rule
14:43 Determine How Much Is Actually Seizable
15:09 Get a Point of Contact's Fax Number
16:11 Develop Your Plan of Action and Get Into a Resolution!

#irstaxes #taxdebt #taxrelief

posted by zimmernh1