bank levy
Forced account withdrawal
A bank levy is a legal seizure of funds from a bank account to satisfy an unpaid debt.
Government agencies—especially tax authorities—can issue levies to collect overdue taxes, child support, or court judgments directly from someone's account: The IRS placed a bank levy on his account for unpaid taxes.
Unlike a lien, which claims future assets, a levy actually takes the money.
- taxMandatory public revenue charge
- back taxesPreviously unpaid government dues
- seizureForcible taking or convulsion
- garnishmentCourt-ordered debt collection
- IRSFederal tax collector
debt · freeze · frozen assets · attachment · collection · collection agency · assessment · withholding · lien · tax lien · confiscation · revenue · enforcement · court order · creditor · delinquent · wages · account
bank levytax refund
Returned excess withholding
bank deposit · direct deposit · rebate · dividend payment · bailout funds
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