Commingling Funds-Recovery options

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  • #15137

    If the IRS Levies a business bank account for past due taxes, is it possible to get a portion of the levy returned?
    Client has business operating account seized for non payment of back taxes. He used one bank account for both the security deposits and rents. He claims the security deposits belong to owners and IRS has no right to seize them from the company.
    How do I get the security deposits returned?

    #15162
    Eric Green
    Keymaster

    Patrick, contact the IRS (either the Revenue Officer you are dealing with or ACS) and explain that some of the money in the account does not belong to the taxpayer. They will ask for proof and you should have the documentation ready to show what was in the account and how much of what was taken does not belong to the taxpayer. Often they will release that money and take the rest which does belong to the taxpayer.

    Good luck!

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