The IRS bank charges must be the most effective and strongest remedy the IRS has to collect, the amount owed to them. The IRS has the option of freezing your assets and then taking over without your permission and without a proper court order.
The IRS tax bank levy release is very detrimental to taxpayers. The money that was there can disappear momentarily, leaving ordinary taxpayers desperate and, more importantly, downright financial hardship.
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Checks are reflected, rent/mortgage bills and other utilities are not paid, basic necessities cannot be placed, which can add to even greater frustration and despair for the average taxpayer. In short, the IRS bank tax can and can cripple the average taxpayer in a very short period of time.
But you should know that taxpayers are entitled to these fees, there's only a short period of time to learn about and use these rights to get the IRS breaks you need on your bank's taxes. You should also know that you have 20 days to fight for the refund as the funds will be transferred from your bank to the IRS on the 21st day, as required by law.
Not to mention, you won't be able to get those assets back after the 21st day, but you will have a more difficult battle once your funds are held. The IRS bank tax is not an instant "foreclosure" of your assets, but your assets will be frozen for this twenty-day period.