Business Bank Levy

If Your Utah Business is Facing an IRS Bank Levy We May Be Able to Help You. Contact our Business Levy Legal Team Today.

Business Bank Levy

An IRS levy is the actual action taken by the IRS to collect taxes.  When a business owes taxes the IRS may issue a levy to a bank to take all the funds in the account, it may issue a levy to the business’ merchant account, it may issue a levy to the business’ clients, or the IRS may issue a levy to the business’ other income sources.  IRS levies on a business can take all of a business’ income and effectively shut a business down.

The person, company, or institution served with the levy must comply or face their own IRS problems.  Once the person, company or institution who receives the IRS levy, they will become aware that the business has a tax debt and the amount that the business owes the IRS.  The person, company or institution that receives the IRS levy is also faced with additional paperwork in order to comply with the levy.  The awareness of the tax debt and the additional paperwork often results in considerable strain on the relationship between the business and the person, company or institution who received the levy.

Levies should be avoided at all costs and are usually the result of poor or no communication with the IRS.

How a Bank or Merchant Account Garnishment Works

When the IRS levies a bank account, the levy is only for the particular day the levy is received by the bank.  The bank is required to remove whatever amount is available in the business’ accounts that day (up to the amount of the IRS levy) and send it to the IRS within 21 days, unless notified otherwise by the IRS.  This type of levy does not affect any future deposits made into your account, unless the IRS issues another bank levy.

How a Receivable or Income Levy Works

Any IRS receivable or income levy is different than a bank levy.  Receivables and income levies are sent to the income source and remain in effect until the IRS notifies the income source that the levy has been released.

We can help your business avoid getting levies filed and we can help your business if levies have already been filed.

Do You Need Business Bank Levy Legal Representation?

Our Business Bank Levy lawyers are highly experienced and knowledgeable of Business Taxes law in Utah and Federally. They have dealt with nearly every kind of tax situation imaginable, and they will be able to help you navigate the complex world of tax law as you try to deal with the IRS and other agencies.

best utah tax attorneys
I have used Michelle Turpin and her Associates for over a decade. Michelle is professional, down to earth, incredibly dedicated to her clients. Her timely delivery, clarity of message and personalized attention with incredible knowledge delivering positive results. I’m very thankful to have her on my side.
Operas Angel
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Related Content

Our Local, State, and Federal Tax Lawyers

We are a full-service tax law firm with more than 30 years of experience helping individuals and businesses deal with all of their tax and bankruptcy issues. If you are dealing with the IRS or a State taxing authority, our tax attorneys can help you navigate the bureaucratic process, make sure that your rights as a taxpayer are protected and resolve your issues in the best manner possible.

We'll Help You Deal with the IRS

The IRS can be ruthless when it comes to dealing with those they believe have committed tax fraud or who owe them money. If you have come into conflict with the IRS, you’ll want our experienced Salt Lake tax law professionals on your side. Our tax attorneys will represent you and help your case reach the most favorable outcome.