Personal Liability as Outlined by the IRS

In cases where the IRS learns a depositary overlooked or misreported information in response to a levy, the IRS may serve a summons to obtain the balance of the account at the time of the levy.  The IRS will demand payment of that amount from the depositary regardless of the current availability of funds in the account. If payment is not received, the IRS may file suit to ask the court to determine whether the depositary’s failure to identify the account was reasonable and whether personal liability and a 50 percent penalty should be imposed for failure to honor the levy.  There is no statute of limitations for bringing a levy enforcement suit against a third party depositary.  (IRC Section 6332(d))

Enforced Collection Actions

If taxes are not paid timely, and the IRS is not notified why the taxes cannot be paid, the law requires that enforcement action be taken, which could include the following: Issuing a Notice of Levy on salary, bank accounts or property (legally seize property to satisfy the tax debt) Assessing a Trust Fund Recovery Penalty for certain unpaid employment taxes Issuing a Summons to the taxpayer or third parties to secure information to prepare unfiled tax returns or determine the taxpayer’s ability to pay

Please, don't let this happen to you. You can tame the beast by contacting Bill first.

IRS wage levies are no laughing matter. Get the help you need before the situation mushrooms out of control. Be leery of the conmen that are preying on your sense of confusion and frustration. Call Bill to learn how to fight smart.