Letting your unpaid taxes get out of control can result in a CRA’s enforcement collection actions. When taxpayers owe large tax debts to the CRA and the payments have not been made to the CRA’s satisfaction, the CRA typically sends out notice of legal actions. This action could be a CRA imposed bank levy which is completely legal and quite serious.
A bank levy allows the CRA to issue an order for payment against your bank accounts which will force you to pay the CRA prior to having any access to your own funds.
It is the standard course of action for the CRA to use bank levies to collect back taxes. Imposing the bank levy requires only a letter of order from the CRA to the banking institution. Once received, the bank is forced to freeze all funds in the taxpayer bank account(s). Violation of this order could cause serious repercussion for the bank as such the CRA has the power to seize funds that belong to a taxpayer left in any Canadian banking institution.
If you have been issued a bank levy, Tax SOS can help you. Tax SOS is a team of tax professionals who are experienced in negotiating the release of CRA bank levies. For more information on how we can help call (877) 982-9767 or (416)623-9234 or complete the Contact Form for a confidential and free consultation.
Notice of Intent to Levy
If you receive notice of intent to levy, you need to take action immediately, failure to do so will result in severe complications.
Tax SOS has developed strategies to deal with CRA imposed levies. We have stopped many bank levies and negotiated countless settlements. We can keep the tax men out of your accounts fast.
To get help with a CRA imposed Tax levy, call Tax SOS TODAY at (877) 982-9767 or (416)623-9234 or complete the Contact Form!
Stopping or Removing a CRA Levy Imposed on a Bank Account
With a tax levy, the CRA is able to seize money from personal bank accounts, retirement benefits or social welfare benefits. If you own a business a levy can be applied on accounts receivables. When you or your business is affected by a tax levy the impact can be devastating. The time between being served with notice of a levy and the imposition of a levy can be one day to the next.
In cases where a levy has been improperly imposed, it is possible to get your money back. This however requires immediate action, don’t delay Tax SOS can help. Call us at (877) 982-9767 or (416)623-9234 or complete the Contact Form to get a free confidential consultation in order to get quick help.
If you have also received another notice besides the bank levy, it is probable that the CRA has also placed a lien on your properties. To learn more on this, visit the Tax lien page and read about the dangers posed by liens.
If you are in need of a tax professional to settle a bank levy for you, call us now for a confidential consultation. Quick relief is only a phone call away.
Call us now at (877) 982-9767 or fill the Contact Form. The initial consultation is FREE, CONFIDIENTAL AND NO OBLIGATION!