Saturday, June 16, 2012

IRS Release Levy -- IRS Wage Garnishment Release

PROBLEMS WITH THE IRS

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IRS Levies on 3rd Parties - Wages, Social Security, Bank Accounts etc. 

An IRS levy on 3rd parties is, in effect, a seizure by the IRS of a taxpayer's property, or rights to property, in possession or control of a 3rd party. A 3rd party could be your employer, the Social Security Administration, your bank, your stock broker and anyone who pays you money.

An IRS levy on a 3rd party is the most common collection tactic by the IRS. Collection enforcement through a levy is very simple for the IRS to implement. The two most common forms of IRS levies are a bank account levy and an IRS levy on someone wages. You can include a levy on Social Security as a 3rd party levy. A levy on Social Security would be under the Federal payment Levy program and carries it's own set of challenges for a taxpayer to overcome.

An IRS levy is sometimes referred to as a garnishment. Please note that the IRS does not use the term garnishment. For purposes of this blog, the term garnishment and levy are the same.

As a practical matter, the IRS uses the levy of wages (include Social Security in this discussion)  and bank accounts as their most common enforcement method because that is where your money can be found easily. Let's call an IRS wage levy and an IRS bank levy as the "path of least resistance."

The IRS will know what specific bank you do business with and who your employer is. The IRS gathers information from a variety of sources such as your tax returns, W-2 reporting by your employer, 1099 reporting of a contract worker and in the case of Social Security the IRS matches their computer records with that of the Financial Management Services which sends out checks for the federal government.

If you have made a payment to the IRS for a tax debt, your bank information has been recorded. When the IRS decides to enforce collection of a delinquent tax debt, the IRS simply retrieves information from its data bank. 

The IRS Levy Process

The IRS will execute a levy by serving IRS Form 668-A, Notice of Levy or IRS Form 668-W, Notice of Levy on Wages, Salary and Other Income. IRS Form 668-A is a one time levy that attaches to all of the funds and property of a taxpayer held by a 3rd party at the time the 668-A was served. A 668-A levy would be used at your bank or brokerage. Whatever the IRS finds at your bank at the time of service of the 668-A levy is what the IRS is entitled to. To receive anymore funds from a 668-A levy the IRS would need to be served again and again and again.

A 668-W levy on the other hand is different. A 668-W is different from the 668-A levy in that it is continuous on part (a very large part) of the funds or to be held by a 3rd party (your employer). A 668-W levy only needs to be served once to be fully in force. 


YOU WILL NEED AN IRS LEVY RELEASE

 IRS FORM 668-D RELEASE of LEVY

To Stop an IRS Wage Levy



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Your IRS tax relief team at Flat Fee Tax Service, Inc. will have your IRS Wage levy stopped and released within one (1) day / 24 hours. The experienced IRS tax Attorneys at Flat Fee Tax service, Inc. have been successful at having a 668-W levy released even though you may have delinquent tax returns.

Be advised that the odds of having a 668-W levy released on your own (without an IRS Tax Attorney) are "slim and none" if you have missing tax returns. Also, if you have an IRS Revenue Officer assigned to your case, the chances of having a 668-W levy released on your own, is pretty close to impossible.

If you have an IRS Revenue officer assigned to your case, it will take more than 1 day to have your levy released. When an IRS Revenue Officer is involved, you will be required to provide pay stubs, bank statements and other information. Don't expect the Revenue Officer to co-operate with you. You will need an experienced IRS Tax Attorney to reach your desired result.

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I am Dave Rosa, the V. P. of Client Relations at Flat Fee Tax Service, Inc. and we provide our clients with affordable IRS help. We are well known as the tax resolution company that will have your IRS wage levy stopped and released in 1 day / 24 hours. 

FLAT FEE TAX SERVICE, INC.

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1 comment:

  1. Flat Fee Tax Service, Inc. will have your IRS wage levy stopped and released in 1 day. Keep your paycheck. Call us for your confidential consultation. http://www.flatfeetaxservice.com See our informative blog: http://www.affordableirshelp.com and follow us on Twitter: http://www.twitter.com/flatfeetaxsvc

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