When you owe the IRS and fail to arrange payment, they can take direct action — and one of their strongest moves is a bank levy. This allows them to freeze your account and withdraw funds to cover your debt.
The process begins when the IRS sends a Final Notice of Intent to Levy. If you don’t respond within the given timeframe, they contact your bank. Once the bank receives the order, your account is frozen for 21 days. After that, the IRS collects what’s available.
At Olympus Tax Resolution, we move quickly to stop levies in their tracks. Whether that means negotiating an affordable installment agreement, proving financial hardship, or disputing the levy’s validity, we use every legal tool available.
Bank levies can happen fast — but with quick action, they can also be stopped. If your funds are frozen or you’ve been warned by the IRS, call Olympus Tax Resolution immediately to safeguard your assets.