IRS Practice Series: 10 Steps to Release IRS Levies on Paychecks or Bank Accounts
Authored by Eva Rosenberg
About this Course
Topics covered include: 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.
Upon completing this course, you should be able to: 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.
IRS Practice Series: Overview of Collection Issues (or equivalent knowledge)