IRS

The IRS Placed a Tax Levy on My Bank Account – What Are My Options?

The IRS Placed a Tax Levy on My Bank Account – What Are My Options?

A tax levy is a legal action that allows the IRS to legally take property in order to pay off a tax debt. As a result of IRS litigation and other actions, you could see your wages garnished, assets frozen, or even the seizure of your vehicles and real estate. This is not something that happens overnight though. The IRS must satisfy a number of requirements before can actually issue a levy.