Skip to content

State tax levy for dissolved company—SAR?

Answered by: 

We have received a state tax levy (over $5,000) for a company that was dissolved in 2008. However, the president of this company is a current director at the bank. Should we file a SAR for this?

You really don't have anything on which to base a SAR filing. A tax levy is not evidence of tax evasion. It could stem from an honest error. Even if the levy you received did originate with a deliberate underpayment of taxes, you haven't indicated how the bank or its accounts were involved. I suggest that you process the levy according to your normal routine and move on to the next challenge.

First published on 03/06/2016

Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics