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A bank levy is an IRS/State collection tactic, in which your bank is forced to freeze any and all of your accounts and all the funds therein. The bank must hold your funds frozen for 21 days, at the end of which, if the tax debt is not resolved, the money is transferred to the IRS/State.
Hi there! great stuff here, I'm glad that I drop by your page and found this very interesting. Thanks for posting. Hoping to read something like this in the future! Keep it up!
ReplyDeleteA bank levy is an IRS/State collection tactic, in which your bank is forced to freeze any and all of your accounts and all the funds therein. The bank must hold your funds frozen for 21 days, at the end of which, if the tax debt is not resolved, the money is transferred to the IRS/State.