This isn't really a tax question as much as it is a banking question. I recently received a copy of an IRS levy on my bank account. After receiving the notice, I called the IRS and worked out a payment arrangement. Easy enough. The IRS agent I spoke with indicated there wasn't much he could do about the actual levy because it was probably already being processed. The notice was dated the 25th--I received it on the 30th and made arrangements on the 2nd. As of today, (4th), my account still hasn't been levied. Does anyone know how long it takes a bank to process a levy once they receive it? I was under the assumption that the IRS sends the copy to the taxpayer after sending it to the bank to keep the taxpayer from withdrawing funds prior to the levy. I'm in banking limbo until it happens.
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