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Bank Levy Tax Lien Resources Brigham City UT

A payroll tax lien is used by the IRS to secure the payment of overdue payroll taxes. A bank levy is the actual seizure of money to pay them. Get both a bank levy and payroll tax and you have a major problem.

Mr. A. Wayne Margetts (RFC®), LUTCF
(801) 532-1871
175 S Main St, Ste 1050
Salt Lake City, UT
Company
LPL
Qualifications
Education: BSc (Math)MBA
Years of Experience: 16
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
H&R Block
(435) 462-2785
750 S STATE ST
MOUNT PLEASANT, UT

Data Provided by:
Liberty Tax Service
(866) 871-1040
366 S 500 E
Salt Lake City, UT

Data Provided by:
H&R Block
(801) 495-4172
9151 S QUARRY BLVD
SANDY, UT

Data Provided by:
Liberty Tax Service
(866) 871-1040
1132 E 3300 S
Salt Lake City, UT

Data Provided by:
Mr. Gregory W. Williams (RFC®), CFP, CHFC, CLU, LUTCF, MSFS
(801) 453-2271
6340 South 3000 East, Suite 500
Salt Lake City, UT
Company
Exit Strategy Specialists, LLC
Qualifications
Years of Experience: 26
Membership
IARFC, MDRT, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided by:
MainStreet Tax & Accounting Services
(435) 789-0691
1285 W. Hwy 40
Vernal, UT
 
H&R Block
(801) 334-4002
5845 E AVE BLDG 412
HILL AFB, UT

Data Provided by:
H&R Block
(801) 225-4018
738 S STATE
OREM, UT

Data Provided by:
H&R Block
(801) 825-5502
1917 W 1800 N STE D6
CLINTON, UT

Data Provided by:
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Bank Levy Tax Lien Resources

Bank Levy - Payroll Tax Lien

A payroll tax lien is used by the IRS to secure the payment of overdue payroll taxes. A bank levy is the actual seizure of money to pay them. Get both a bank levy and payroll tax and you have a major problem.

Imagine the worst possible tax nightmare involving your personal taxes. Now multiply the misery by 100 times. The result will give you an idea of payroll tax problems with the IRS. It simply doesn't get any worse. Not remotely.

The IRS takes a very aggressive stance when it comes to payroll tax. The reason for this is the IRS views the payroll tax as partially being "owned" by the employees of a business. When an employer fails to pay payroll taxes, the IRS takes the view the business has stolen the money. Yes, we are talking criminal theft and all that implies. In a best case scenario, the IRS will workout a payment plan with employers. In worse case scenarios, the IRS will seize your assets, liquidate the business and pursue criminal charges. Whatever you do, make every effort to deposit payroll taxes in a timely matter.

If you miss payroll tax deposits, the IRS will come for you quickly and with a very bad attitude. You can expect a bank levy to be filed on the business bank accounts. In such a situation, the bank will be forced to freeze the accounts and forward all amounts not exceeding the tax owed to the IRS within 21 days. Put another way, the minute the levy hits the bank account, you can kiss the money goodbye. The IRS will typically renew the levy on a daily basis until the money is paid.

A bank levy from a payroll tax lien should scare the living day lights out of you. When one occurs, you should expect the IRS to raid your business within a matter of days. Come hell or high water, the IRS intends to collect the missing payroll tax and you are going to experience misery unlike anything you can imagine.

Making matters worse, the IRS does not just attack the business with a bank levy when trying to collect ...

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