Home > Levy Appeals

Bank Account Levy

Bank levies can cripple a company if the monies seized were intended for payroll.
When the IRS issues a notice of levy, they have contacted the business's banking institution and requested payment from the account for the liability. 20/20 can obtain a release of levy by demonstrating to the IRS that the monies levied were to be used to pay employees, bills, or other taxes. We can have these monies returned to the taxpayer and then establish a payment schedule, which is manageable for the cash flow of the business.

State Levy

The freezing of a bank account can cripple a company's ability to perform financially.
Depending on the laws of each State, a levy can either be a permanent freeze on an account or it can be a one-time strike. However, when a State issues a levy, seizure of the business is usually not far behind. By demonstrating to the State that the business needs the funds to remain in operation, 20/20 will typically be able to have the funds returned to the taxpayer. 20/20 can also obtain a release of the levy and establish a payment schedule.

Accounts Receivable Levy

Accounts receivable levies not only put a stranglehold on incoming cash but can also ruin vendor and supplier relationships.
A common tool used by the IRS and State is to issue an Accounts Receivable Levy to a customer or individual who owes the taxpayer money. Forty-five days from the date the IRS issues the tax lien, they have first right to all Account Receivables. Not only is a company's ability to pay bills and employees limited, its relationship with vendors and its reputation is tarnished. 20/20 will release Accounts Receivable levies allowing a taxpayer to pay the IRS on their own terms. Furthermore, once 20/20 is retained, we can prevent Accounts Receivable levies from occurring in the future.