IRS Practice Series: 10 Steps to Release IRS Levies on Paychecks or Bank Accounts

Author: Eva Rosenberg

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

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 2019

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 prevent the erosion of their client base, as their clients turn to free and cheap tax preparation services online. Tax practitioners who want to protect their clients from IRS' predatory collections action, develop the skills to prevent and/or resolve IRS collections actions, and want to grow their business into this rapidly expanding market.

Topics Covered

  • The 10 Steps to Releasing a Levy
  • How and Why Levies Happen
  • Avoiding the Levy
  • In Compliance
  • Being Hit by Levy or Garnishment
  • Immediate Action to Take
  • The Tax Hotline and Other Magical Tools
  • Getting the Levy or Garnishment Released
  • Getting Proof of the Levy
  • Sharing the Levy Release
  • If all Else Fails Last Resort

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
  • Recognize causes for a levy
  • Describe a lien
  • Recognize what must be signed, prior to calling the IRS for your client
  • Describe how long a levy is good for, when the IRS issues a levy on a bank account
  • Identify what to request if the Collection Due Process Hearing deadline is missed
  • Recognize how much is legally allowed to be garnished, when the IRS issues a garnishment against wages
  • Identify the easiest way to deal with a balance due to the IRS
  • Recognize what IRS facts should be collected when dealing with a taxpayer's levy
  • Identify which letter the IRS will issue if a taxpayer fails to make the agreed upon payments
  • Describe which form must be used in order to get an extension of time to pay
  • Recognize what must be current when requesting a release of a levy
  • Identify how much is legally allowed to be levied, once the IRS issues a levy against a bank account
  • Recognize the main purpose of a hearing, after the 1058 Letter comes out
  • Differentiate criteria to help from TAS
  • Recognize 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

Registration Options
Quantity
Fees
Regular Fee $59.00

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