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I just found out my bank account was levied and left me $0. The $ was for my bills. What can I do to get my funds back?

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I do not have any lawsuits against me or received any lawsuit documents from private creditors. As of now, I don't know who placed the levy on my account since it's a holiday. Although I am not sure, I believe Franchise Tax Board is the one who placed the levy. I owe Franchise Tax Board money and I received a wage garnishment 3 weeks ago. What can I do to get my money back. The money they took was for my rent and basic necessities. My rent check bounced and i have accrued multiple bank charges due to this levy. What are my options from this day forward? Please help. Thank you for your time.

6 Attorney Answers

Best Answer
Immediately consult with a bankruptcy attorney, who has experience with discharging income taxes, as income tax debts for returns older than 3 years can be discharged and perhaps the funds recovered, but swift action by you is required. Alternatively, perhaps get the help of a CPA or other competent tax preparer, as there are probably forms to claim exemption from the FTB. Have you spoken with FTB lately?
If the levy was proper you may not have any recourse to recover your money that was lawfully taken. Consult a debt collection attorney in your area to confirm.
The FYB is relentless. There us a procedure to show the sheriff the funds are exempt, but for now, you are stuck.
If it is the FTB you should call them and talk to them, they not too unreasonable.
Immediately consult BK counsel. Time of essence to consider filing BK, filing claim of exemption, releasing levy;, returning funds to your control.
If it is the FTB, you need to call the Collections Unit at 800-689-4776 or 916-845-4470 and arrange for an installment payment plan. If you make monthly payments on time, the garnishment and levy will be lifted. If you do not get a payment plan you can live with, contact the Taxpayers' Rights Advocate in the FTB, Susan Maples, at (916) 845-6724 for assistance. Good luck!

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