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WebTaxMan
WebTaxMan, Tax Accountant
Category: Tax
Satisfied Customers: 922
Experience:  20+ Years experience-CPAs & My Own Business/IRS Authorized e-file Provider/CA Tax Education Council
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How long can/will the IRS put a hold on my account

Customer Question

My girlfriend sold a house that she had inherited about 10 years ago or so. During those 10 years she had been renting out the house and paid taxes on it throughout the years. She finally sold the house for ruffly 1million dollars which she basically put in a savings account. After she filed taxes we had gone to the bank only to find out that there is now a hold on the account. We received no letter or notice from either the IRS or the bank itself. We have tried to call the IRS for information on this hold. This is where our paychecks go, where we pay bills and take care of her daughter. We have absolutley no information about whats going on except that the bank says there is a hold and no one knows how long or for what reason. My question is how do we find out how long the hold is? Is there any one we can talk to about this? And is there anything we can do about the fact that we can barely live with no money to get to?
Submitted: 7 years ago.
Category: Tax
Expert:  WebTaxMan replied 7 years ago.
Hi abh,

I see you called the IRS, the Bank, a CPA and a Lawyer. Did they all fail to provide any information?

The bank has to show you why it cannot release funds. What did they tell you?

Thanks, Mike
WebTaxMan, Tax Accountant
Category: Tax
Satisfied Customers: 922
Experience: 20+ Years experience-CPAs & My Own Business/IRS Authorized e-file Provider/CA Tax Education Council
WebTaxMan and 6 other Tax Specialists are ready to help you
Customer: replied 7 years ago.
They told me all they could say from a letter they received in the mail was that the IRS requested them to put a hold on the account.
Expert:  WebTaxMan replied 7 years ago.
Sorry to hear that.

Your best bet is to seek a competent professional in your area that specializes in IRS liens. There are some good ones that realize your financial situation, and will work with you.

Best of luck.

Mike

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