Before the Georgia Department of Revenue levies your bank account, you should receive several notices in the mail. To avoid a bank account levy, respond to these notices or contact a tax attorney for assistance.
First, you should receive the proposed assessment notice. If you do nothing, you’ll then get an official assessment notice and a demand for payment. At this point, you basically have three options:
- If you think the tax assessment is incorrect, contact a tax attorney to get help appealing the assessment.
- If the assessment is correct and you can pay in full, do so.
- If the assessment is correct, but you can’t pay in full, find the best tax resolution option for your situation.
If your notice from GADOR is demanding payment or threatening a bank account levy, take it seriously. Your bank is required by law to comply with the levy and hand over your funds. There is a waiting period between when the levy is submitted and the funds and released. GADOR will also give you time to respond to their notices, so take advantage of this windows in order to avoid the levy.
If you can’t dispute the tax liability, the best way to avoid the levy is to agree to pay the tax. You can pay in full, request an installment agreement, or submit an Offer in Compromise.
Georgia Tax Resolution Options
Paying in full may be the best option if you have the money or can borrow it. If you can’t get the money, you can probably request an installment agreement.
Installment agreements require monthly payments for a term of 60 months or less. As long as you make payments, you won’t have your bank account levied. But you’ll be charged penalties and interest, and your federal and state tax refunds can also be seized and applied to your outstanding balance.
Offers in Compromise (OICs) are another viable option for some Georgia taxpayers. You can settle your tax debt for less—sometimes much less—than what you owe. But you’ll need to provide detailed information that shows GADOR that they’re unlikely to collect the full amount from you in a reasonable time period.
Whenever you receive a notice that your bank account will be levied to pay Georgia back taxes, contact a tax attorney immediately.
Prevent Georgia Department of Revenue collection actions by calling The Gartzman Law Firm at (770) 939-7710. We can help stop bank account levies and wage garnishments before they happen and find a creative solution to your tax problems.