Often Times, Filing Past Due Tax Returns & Installment Agreement Can Stop the IRS Collection Process

Levies

If IRS levies your bank account, your bank must hold funds you have on deposit - up to the amount you owe, for 21 days. This period allows you time to solve any problems from the levy or to make other arrangements to pay. After 21 days, the bank must send the money, plus interest if it applies to the IRS.

Often times, to stop the IRS collection process, all that is needed is to: 1) file past due returns and 2) request and Installment Agreement - if you can't pay all of your taxes.

And in some cases, the IRS will owe you.

(Note: If you own Real Estate or have a Small Business and IRS has sent an intent to Levy, it is best to contact an Enrolled Agent or a Tax Professional as soon as possible)

You can get a Levy released prior to full payment. There are conditions. For exact details visit irs.gov