McKenzie Comments on Government Shutdown in Bloomberg Law
Bob McKenzie, a partner in the Firm’s Tax Practice, is quoted in Bloomberg Law discussing the potential impact of a government shutdown on tax law work. According to Bob, taxpayers that are served levies from IRS collection staff could be hurt.
"When a levy is placed on a bank account, the levy provides for banks to not forward the funds for 21 days. During that period, taxpayers could work out a deal and secure a release on the levy," said Bob. "However, if an extended shutdown takes place, there may be no employees available to answer phones and grant taxpayers a release on a levy. Who can prevent that harm if the IRS is closed?"
To read the full article, click here.