California Employment Development Department (EDD) has the power to collect unpaid taxes using the EDD Bank Levy. It is a popular financial tool that is effective when the institutions think that there is no other way to get back the money. If a person is not settling his pending taxes after multiple requests and sending notices, EDD uses Bank Levy.
During this process, EDD can practically freeze all the bank accounts and funds. If you are a person or running a business, it will definitely impact your life. Your cash flow will be stopped, and you can’t operate anymore. People who are facing these issues must contact the Leading Tax Group. We deal with these issues all the time and possess special skills in negotiation on behalf of our customers.
If you are interested in a tax settlement or if you have received a settlement offer from the IRS, now is the time to call Leading Tax Group. Our tax settlement professionals (whom include former IRS tax attorneys) are always ready to work with you and provide you with the information and representation you need.
800-900-4250
When you are facing EDD Bank Levy, it will seriously impact your personal and professional life. Many businesses make this common mistake of not filing their EDD taxes and further face issues. Once your bank account is frozen, you don’t have many options anymore. Issues like overdraft and bounce checks are common in these circumstances.
If a levy has been issued in the name of your company, it will damage your credit ratings, and you will find it difficult to have any business loans further. This will create a crunch of money and also damage your reputation in the market for a long time. Facing legal challenges is also possible. Prepare for these things in advance. Leading Tax Group, an agency of Tax Consultants, Tax Attorneys, Enrolled Agents, and Former IRS Auditors, is here to help you out.
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For managing any complex tax matters, it is wise to have professional help. Without professionals handling EDD bank levy issues, your business will lose its financial stability. At Leading Tax Group, our experts know the importance of negotiations. They will meet with EDD officials, understand the reasons behind Levy, explore options like Penalty abatement, and offer in Compromise for positive outcomes.
We must also be familiar with the latest tax laws in the country. It will help you further comply with these laws and prevent any future levies. As you are dealing with financial and legal matters, you can’t make any silly mistakes. Don’t waste any time and contact Leading Tax Group before the EDD freezes your accounts.
Headquartered in Encino, California with multiple local branch offices in your backyard to serve you at your convenience. Leading Tax Group can schedule a face to face consultation to represent your case with the IRS, FTB, EDD, as well as CDTFA Audits.
EDD bank levy is a legal action that can help organizations collect pending taxes and debts. The process of EDD Bank Levy is similar to fixing the account. After that, you can withdraw any amount from your account. It is one of the last steps taken by the EDD.
If you have received a notice about the EDD bank levy, there must be some valid reasons behind it. In most cases, the EDD chooses bank levies because there have been unpaid taxes, penalties, and more. You had enough time to resolve the matter, but you didn’t, and now the EDD is using other means to get back their money.
According to the IRS rules, the EDD must send you a notice before imposing a Bank Levy. If this hasn’t happened in your case, you should contact the authorities and tell your side of the story. At Leading Tax Group, we are more than happy to guide you.
The bank has sealed your accounts after the EDD bank levy. In this situation, you can contact the EDD and try to negotiate, but the chances of any improvement are rare. Leading Tax Group, an agency of Tax Consultants, Tax Attorneys, Enrolled Agents, and Former IRS Auditors, can help you with accurate consultation and being present during the negotiations with the EDD.
Once you contact Leading Tax Group, an agency of Tax Consultants, Tax Attorneys, Enrolled Agents, and Former IRS Auditors, we will take necessary actions like applying for a reassessment, looking for options to settle the pending debts, and having a middle ground better for all the parties.
info@LeadingTaxGroup.com
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800-900-4250