Lance Drury Law
Ste. Genevieve 573-883-3056
Columbia 573-886-8900
St. Louis 314-200-0003

Immediate economic hardship and wage/bank levies

Physical property is not the only thing the Internal Revenue Service could issue a levy against in connection to an unpaid tax debt. Levies could also be issued against a person's bank accounts or wages. Bank levies and wage levies can have significant impacts on what financial resources a person has access to in their everyday life, and thus are tax collection devices that can impact a person in some very fundamental ways.

When a person is facing this powerful IRS tax collection method, it is important for them to know what options they have for addressing the levy. There are a range of potential methods for trying to get a levy released. A person's individual situation dictates what methods are available to them.

In some instances, a person who has had a bank or wage levy issued against them may be able to make a request for a levy release on the grounds of the levy causing immediate economic hardship. When it comes to IRS levies, immediate economic hardship is defined as being blocked from covering reasonable and basic living expenses. 

What the result of a given immediate economic hardship levy release request will be can be impacted by a range of factors, including what sorts of evidence of hardship are presented in relation to the request.

How efforts to get a bank/wage levy released go can, whatever method a taxpayer pursued, have all sorts of big impacts on a taxpayer. Another thing that can have big implications for a taxpayer facing a levy is what actions they take regarding the tax debt underlying the levy.

Experienced tax attorneys can provide individuals facing bank or wage levies in relation to tax debt with guidance on issues regarding addressing the levy and the debt underlying it. 

Source: Internal Revenue Service, "What if a Levy is Causing a Hardship?," Accessed April 22, 2016

No Comments

Leave a comment
Comment Information

As Seen On

NBC ABC Fox News Channel USA Today BIO - The Biography Channel CBS
NBC ABC Fox News Channel USA Today BIO - The Biography Channel CBS

Schedule a No Obligation Tax Consultation

Contact us today and get relief from your tax burden. You can also receive a FREE chapter from the best-selling book, Protect and Defend, just by requesting it from the form below.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

The Law Firm of Lance R. Drury
150 Merchant Street
Ste. Genevieve, MO 63670

Phone: 314-200-0003
Fax: 573-883-3095
Ste. Genevieve Law Office Map

St. Louis Office
3636 South Geyer Road, Suite 100
St. Louis, MO 63127

Phone: 314-200-0003
Fax: 314-238-7201

Columbia Office
3610 Buttonwood Drive, Suite 200
Columbia, MO 65201

Phone: 573-886-8900
Fax: 573-886-8901

Facebook Twitter You Tube Linked In Rss Feed
Review Us

Back to Top

"The choice of a lawyer is an important decision and should not be based solely upon advertisements."

- Lance

Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters.