A recent case, United States v. JPMorgan Chase
Bank, creates a very tight time frame for banks to react to a levy from the IRS
and provides some insight on the process of the IRS collection efforts when it
determines the collection of tax debt is in jeopardy.
The court determined that
the bank did not move quickly enough to put a hold on the taxpayer’s account
and held the bank liable when it allowed the taxpayer to withdraw funds shortly
after the IRS served a levy upon the bank.
While the court may have been
influenced by the fact that the levy was served upon a bank, the same speed, or
a somewhat similar speed, may be required of any third party receiving a levy
and subsequently paying over funds to the person identified in the levy. Read more ...
Need Help With An IRS Levy?
Contact the Tax Lawyers at
Marini & Associates, P.A.
Marini & Associates, P.A.
for a FREE Tax Consultation
at: www.TaxAid.us or www.TaxLaw.ms or
Toll Free at 888-8TaxAid ((888) 882-9243)
No comments:
Post a Comment