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Where does the IRS get information to levy your bank account? What info do they use?
3 years ago
27
Where does the IRS get information to levy your bank account? What info do they use?
They use the 1099 information that is sent from banks that pay you interest.
They sent levy to the banks that issued you a 1099 and levy up to the full amount of the tax balance due from your bank account. Most people that owe money for tax debt and are getting a bank levy owe more money than the total of the tax debt. So what happens is that the bank account goes to zero and in many cases, the bank also charges a fee and your account goes into the negative.
If you want help from our tax attorneys with your debt Click here https://trp.tax/start/ to schedule a free consultation or call us at (888) 515-4829.
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