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Bank Levy

Bank Levy

This is a discussion on Bank Levy within the Commercial Mortgages forums, part of the Mortgage and Loans Forum category; An Internal Revenue Service (IRS) bank levy is a seizure of funds from a taxpayer's account to satisfy an unpaid ...

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Commercial Mortgages Commercial Mortgages are loans that are secured on commercial property such as shops, business premises, warehouses, factories, workshops, garages, hospitals and schools.

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12-02-2010, 12:40 PM

Eugine

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Bank Levy

An Internal Revenue Service (IRS) bank levy is a seizure of funds from a taxpayer's account to satisfy an unpaid tax bill. This is a legal action of last resort for the IRS, as it prefers to collect taxes voluntarily if at all possible. The only way to lift the levy is to pay the tax bill, make an agreement with the IRS, or wait for the collection period to expire. People who have an IRS bank levy on their accounts are usually advised to consult a tax lawyer to get specific advice and assistance.

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