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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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how does a franchise tax board bank levy work

Customer Question

in the case of a bank levy, how does it work? Is money deducted from your account on an ongoing basis until the debt is satisfied?
Submitted: 10 years ago.
Category: Tax
Expert:  Ed Johnson replied 10 years ago.


Is this a state or federal tax levy?


Customer: replied 10 years ago.
Reply to Ed Johnson's Post: It is a state tax levy from the state of California, although I live in Nevada.
Expert:  Ed Johnson replied 10 years ago.

California can levey the entire amount from your account until it is paid.

The only way you can stop or reduce this, is to have an attorney assist you in filing an offer in compromise or working out a payment agreement.