IRS Wage Garnishment? IRS Bank Levy? Tax problems resolved.

[libra8a]

Please show me where this is stated in the tax code?

"The bank must hold the levied funds for a period of 21 days BEFORE they remit them to IRS."

[eTaxrelief]

@libra8a 

[eTaxrelief]

@libra8a Hello,

Please see below for the applicable Code Section and Treasury Regulation applicable to your question. Hope this helps.

Internal Revenue Code (IRC): Title 26, Section 6332 (c)

Treasury Regulation: § 301.6332–3

Chris Jacquez, EA

eTax Relief

[libra8a]

@eTaxrelief Thanks Chris, My bank recently acted as if a Notice of Levy was a Levy and froze some of my assets. They claimed they had to hold them for 21 days before sending them to the IRS. That was until I schooled there attorney on the fact that a Notice of Levy is NOT a Levy. You are aware of IRC section 6331(a) which gives the IRS very limited Levy authority. And unless Vault works for the government the IRS has no authority to Levy him.

Hugh

Hugh

[eTaxrelief]

@libra8a

Yes Hugh, I am aware of IRC section 6331(a). The argument you cite, that the IRS may only sieze the salary of an officer, employee, or elected official of the United States or the District of Columbia, is an argument that has been widely promoted by tax protestors. However, this argument and variations of it, have been struck down routinely by the U.S. Supreme Court as being without legal merit. This will not hold up in the real world. The IRS views it as a frivoulous argument.

[eTaxrelief]

Vault,

I am sorry to hear about your account. The good news is though, given your situation, we likely CAN get that money back. The bank must hold the levied funds for a period of 21 days BEFORE they remit them to IRS. This gives us time to act. The IRS is currently taxing you on the full amount of sales proceeds from the securities you sold in 2007. They are not accounting for the fact that those stocks cost you money to procure. We can correct this situation.

My direct line: (877) 382-9349

[99virgo]

What if it's an EDD fraud case. That was not a fraud, but a misunderstanding. Then charge $5000 in unfair penalties. The $4200 was paid back, but they still want $5000 in penalties, and are taking it from my pay roll. HELP!!!!

[axraxis]

I started a buisness... i had no idea what i was getting into with the goverment, department of labor, and all the different insurence companies...

I wish i had a gun to shoot myself

[insomthegreat]

Jesus Crist just put a bullet in my head. Take it all. They got me good with no warning.

Life is too complicated,im moving to a cabin in the middle of nowhere.