Just when you thought your finances could not be more difficult, a new challenge arose. You received a Notice of Levy from the Minnesota Department of Revenue. The Notice of Levy informed you that the Minnesota Department of Revenue is planning to take money out of your bank account(s) to satisfy your tax debts. You are, understandably, scared. You need that money to meet the daily living expenses of your family. What should you do? Can you get rid of a Minnesota bank levy? Should you contact a Minneapolis bank levy lawyer?
Three Ways You May be Able to Get Rid of a Bank Levy in Minnesota
Generally, you may be able to stop the bank levy from happening if you:
- Reach an agreement with the Department of Revenue. The Department of Revenue may be willing to enter another agreement for repayment of outstanding taxes.
- File for bankruptcy protection. Bankruptcy will stop a bank levy. Instead of satisfying the debt pursuant to a levy, an agreement will be worked out in the course of bankruptcy proceedings.
- Successfully appeal the bank levy. Your Notice of Levy should contain information about appealing a bank levy. If you are successful in your appeal then the bank levy will go away.
However, if you do nothing and ignore the Notice of Levy, then you should expect the levy to be carried out and the money in the bank accounts identified in the Notice to be depleted up to the amount of your outstanding tax debt and related fees.
How to Contact a Minneapolis Bank Levy Attorney for Help
It may be difficult to get out of a Minnesota bank levy without the help of an experienced Minneapolis debt relief lawyer. Accordingly, we encourage you to contact the Rosenzweig Law Office and schedule a FREE consultation with an experienced debt relief attorney. You can reach us via our website or at MN (952) 920-1001 or AZ (480) 207-2203.