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How Can I Stop an IRS Levy?

The best way to prevent an IRS bank account levy is to be proactive when faced with a tax liability.  At M&M Financial, we preach the essentials of timeliness and participation to our clients, as the Service will set a series of deadlines for a delinquent taxpayer (or the taxpayer’s representative) for required financial documentation to be provided.   For a business owner who misses a deadline, the Service may retaliate by issuing a bank account levy or an accounts receivable levy to get the business owner’s attention.  An individual taxpayer should also be wary of a wage garnishment sent to his/her employer.  Why such a harsh tactic?  Because levies work.  And the IRS knows it.

So, how can levies be stopped?  In most cases, the answer is to take the initiative to resolve your tax debt before a levy is an option.  Be forthcoming and communicate regularly with the IRS.  If this sounds like a lot of time and effort, you’re right.  But the alternative is waking up to an IRS levy that has depleted all of your financial resources.

If you’re just too busy to solve your back-tax crisis, or simply recognize that expert representation is worth its weight in gold, contact M&M Financial.  We’ll walk you through the steps necessary to resolve your case and keep in touch with the IRS on your behalf.  Check our Client Cases page to find some real examples of M&M’s tax liability resolutions in your area.



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