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We got a continuous levy on our credit card processor. does…

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We got a continuous...

We got a continuous levy on our credit card processor. does that mean they will take the charges every day or what does it mean. This is the wisconsin dept of rev

Accountant's Assistant: Have you talked to a tax professional about this?

No, the owner of the business just died, so we are trying to get the business straightened out

Submitted: 2 months ago.Category: Tax
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5/30/2018
Tax Professional: Tax.appeal.168, Tax Accountant replied 2 months ago
Tax.appeal.168
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Tax Professional: Tax.appeal.168, Tax Accountant replied 2 months ago

I know that this matter references the state of Wisconsin, however, it appears that their levy program falls in line with the IRS levy program. While it does not specifically state that funds will be levied on a daily basis, the IRS definition of a continuous levy is as follows;

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The levy is continuous until your overdue taxes are paid in full, or other arrangements are made to satisfy the debt.

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My thought is yes, they will take funds daily until the debt is satisfied, or other arrangements have been made.

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Tax Professional: Tax.appeal.168, Tax Accountant replied 2 months ago

What is the State Income Tax Levy Program?

The Internal Revenue Code authorizes the Internal Revenue Service (IRS) to collect federal tax liabilities by levying on property and rights to property of taxpayers who refuse to pay their liabilities. The State Income Tax Levy Program (SITLP) is an automated levy program administered by the IRS that uses state tax refunds as the levy source.

REFERENCE SOURCE:

https://www.revenue.wi.gov/Pages/FAQS/ise-sitlp.aspx

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Customer reply replied 2 months ago
does that mean, the money will automatically be taken, or do they have to levy the account every day
Tax Professional: Tax.appeal.168, Tax Accountant replied 2 months ago

My understanding is that since the continuous levy is in place, they can take the money everyday without taking any further action.

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Tax Professional: Tax.appeal.168, Tax Accountant replied 2 months ago

My suggestion is that if you want a definitive answer on that, call the Wisconsin DOR. They should be able to clarify how the continuous levy works.

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