A levy on a bank account will require the bank to pay over any monies in that account on the date of the levy. The levy requires the bank to pay those monies to the IRS within 21 days. During this 21 day time period, if handled properly, it can be negotiated for the levy to be released with no monies paid or a compromise can be reached to pay less than the monies owed.
Should your wages, bank account or property be levied and you want a free consultation, please e-mail me at helptax@consolidated.net or contact me at (412) 926-0791 or (724)612-7638.