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Can the IRS Take Money Out of My Bank Account?

When someone owes back taxes, the Internal Revenue Service has a few tools at its disposal to compel this person to pay. Wage garnishments are one option; bank account levies are another. Can the IRS take money out of your bank account? Yes, and it's perfectly legal to do so. Bank account levies are avoidable, […] The post Can the IRS Take Money Out of Your Bank Account? appeared first on SmartReads by SmartAsset.

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Can The Irs Take Money Out Of Your Bank Account?

Can The Irs Take Money Out Of Your Bank Account?
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Can The IRS Take Money Out Of Your Bank Account?

Can the IRS take money out of your bank account? Yes, and it’s perfectly legal to do so. Bank account levies are avoidable

Revenue serviceBank leviesBank levyThird party contactReimbursement of bankLeviesa bankBank accounts for levyMoney from your bankMoney out of your bankInternal revenue serviceQualified financialMoney outFinal noticeHappens whenInternal revenue codeBank accounts