Tips for Garnishing Accounts During Tax Season

Time is of the essence when you’re trying to garnish a bank account during tax season.  According to the IRS, most e-filing tax refunds are issued in less than 21 days.  If you’re like most financial institutions, it can typically take you between 1 to 5 days to capture the garnished funds and securely deposit them into your account.

So how do you increase your chances of timely garnishment collections?  We recommend processing bank searches on uncollected judgments as follows:

•April 9th (to capture refunds to early filers)
•April 30th
•May 12th
•May 26th

Keep in mind that this approach is recommended for collecting from individual judgment debtors.  If you have a judgment against a company, and in particular an LLC, the profits and losses “pass through” the company to its members (and your individual debtor).

Disclosure Statement: The proposed bank search schedule does not guarantee positive results.

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