Collections Form 8519

Form 8519 informs you of a bank levy. The IRS will take the entire account and TaxHelpLaw needs to act fast.

Steps for IRS Collections

The bank will hold your money in escrow for 21 days before they give it to the IRS so we have time to attempt to secure a release. TaxHelpLaw must gather all your financial information and the proof. If all the returns are filed we can set up an installment agreement and get a release.

We may need to determine the source of the assessment, discover the IRS file on you, gather any necessary documents, prepare any proper filings, complete your financial affidavit and try to get a release promptly before the end of the 21 days!

But that’s not the end of your case. TaxHelpLaw needs to determine the statute of limitations issues and how they affect an Offer in Compromise, Bankruptcy, Penalty Abatements, an Installment agreement or temporarily¬† uncollectable status so we can present you with an Action Plan to reduce or eliminate this tax debt!

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Oct 08, 2013 by April Troxell

I received a Taxpayer's Copy of Notice to Levy. I watched your video and it stated that the bank only holds the money in my account on the day the levy was received. I am currently negative in my account but I receive a direct deposit this Friday. Will that money be affected and held for 21 days as well? I have been making payments but what's weird is that I also received a letter stating that I had 30 days to set up an installment agreement on the same date I received the notice of Levy. What do I do?

Response: The bank levy only affects the account balance on the day the bank receives the levy. So, that is the only amount which the bank will send to the IRS. The IRS request to set up an installment agreement is separate but should be done. You\'ll have to complete a Form 433-A and prove all the items before the IRS will set up an agreement.
There\'s more information on our TaxHelpLaw Website: TaxHelpLaw.com

J. David Hopkins
Taxpayer\'s Advocate


TaxHelpAudit.com 303-829-4357 3515 S. Tamarac Drive #200 Denver CO, 80237 USA 3.0 3.0 1 1 I received a Taxpayer's Copy of Notice to Levy. I watched your video and it stated that the bank only holds the money in my account on the day the levy was received. I am current