IRS Practice Series: 10 Steps to Release IRS Levies on Paychecks or Bank Accounts (Currently Unavailable)

Author: Eva Rosenberg

With a step-by-step guide through the levy process, course participants learn more about why taxpayers are levied, how to avoid levies, and how levies are released.

Publication Date: May 2018

Designed For
Any proactive, current or prospective, Circular 230 practitioner who understands that the IRS is ramping up the "close the tax gap". Tax practitioners who want to protect their clients from IRS' predatory collections action. Tax practitioners who want to prevent the erosion of their client base, as their clients turn to free and cheap tax preparation services online. Tax practitioners who want to develop the skills to prevent and/or resolve IRS collections actions. And tax practitioners who want to grow their business into this rapidly expanding market.

Topics Covered

• Causes for a levy action SFRs
• Filing with a balance due
• Audit balance due
• Avoiding the levy
• Getting a levy released
• Preparer Hotline or e-services to get taxpayer information
• The steps necessary to get the levy released
• TAS
• Follow up after the Levy Release

Learning Objectives

• Identify a foundation for understanding the levy process and the procedure for getting a levy released
• Recognize how to help a tax practitioner learn to expand their practice base to include representation
• Identify the cause of a levy
• Describe what a lien is
• Recognize what must be signed prior to calling the IRS for your client
• Identify what to do if the Collection Due Process Hearing deadline is missed
• Differentiate legal wage garnishment percentage
• Identify the easiest way to deal with a balance due to the IRS
• Evaluate what facts the IRS needs when dealing with a taxpayer's levy
• Identify which letter the IRS will issue in various circumstances
• Identify which form must be used in order to get an extension of time to pay
• Describe what must be current in terms of being in compliance when requesting a release of a levy
• Evaluate how much is legally allowed to be levied when the IRS issues a levy against a bank account
• Recognize the main purpose of the hearing after the 1058 Letter comes out
• Identify what the practitioner should request in order to verify a levy release
• Differentiate the criterion for help from TAS
• Evaluate reasons for requesting a Collection Due Process Hearing

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
IRS Practice Series: Overview of Collection Issues (or equivalent knowledge)

Advance Preparation
None