Sure. Be prepared to put up collateral.
The Bank of America branch address to mail an IRS levy to can vary by the state the levy is filed in. The court of the area where the levy is filed will give you the correct address to mail the levy.
No.
Yes
An IRS bank levy is a notice to a financial institution that assets in an account holder's name have been seized. All funds in the account will be withdrawn and paid on the debt owed to the IRS. A bank levy is used when individuals have a tax problem, and have failed to contact the IRS and make other arrangements.
Of course. Why would you possibly even question that the Federal government couldn't do something anywhere in the country? Especially something anyone can do? The IRS can levy a bank account anywhere within the US.
The IRS can put a levy on your bank accounts if you owe them money and have not paid them. It means they can take your money, whether you want them to or not.
Yes, a bank can hold more money than the levy requires. However, the particular bank must get an exception notice from the IRS.
They can send a tax levy to financial intuition. Any money you have in the account will be sent to the IRS
The IRS would levy a bank account if the bank account holder had not paid his or her taxes. However, the IRS wouldn't do this unless they had exhausted all other means to collect. They would first send the taxpayer a notice that taxes had been assessed and demand payment. It the taxpayer ignored this notice the IRS would send another notice letting the taxpayer know it was their intention to levy his or her bank account, or other property. This would be sent 30 days before they actually levied the account. Don't ignore letters from the IRS!!
I don't believe so. They will make sure they get paid by garnishing your wages though. Hope this helps a little. The IRS can issue a Notice of Levy to your bank. It doesn't "freeze" your bank accounts, per se. What it does is require the bank to turn over any money that is in your bank account at the moment the Notice of Levy is received. Any money you deposit after the Notice of Levy is received remains yours, the IRS only gets what was there when the bank got the notice. Banks are required to hold that money aside for 21 days, and then turn it over to the IRS. This means that you have a 21 day window to convince the IRS to release the levy, and if you can get them to do that the bank will return the money to your account. After the 21st day the bank sends the money to the IRS -- at that point it is almost impossible to get your money back, so act quickly!
No. An IRS levy will empty out your bank account, but they won't take more than that. However, be aware that if you have outstanding checks they will all bounce and most people will rack up quite a bit in Non-Sufficient Funds fees.
The IRS is not legally linked with the banking industry. The IRS uses banking information that is given them when you have interest earned on a bank account. The banks report the interest via a 1099 INT. The only time the IRS will use that information is when you have been negligent in paying your taxes. Part of the due collection process of the IRS is to issue bank levies against your account and collect all the money in your account for that one instant in time when the levy is issued. To avoid a bank levy when you owe back taxes you must be in a resolution with the IRS for the taxes you owe.