IRS Tax Levy: How a Federal Tax Levy Works, How to Release, & Help
A tax levy is the legal seizure of property done by the IRS in full fill tax debt that is owed. A tax levy is something that shouldn’t be taken lightly, the IRS will continue to take assets until your tax liability is satisfied. It is important to understand how levies work to ensure you take the right actions to avoid them or to stop the IRS from property seizures.
A levy is the actual seizure of assets in order to satisfy an unpaid tax liability. Understand the process of the IRS placing a levy and what you can expect after the levy has been placed.
If you have received this notice it is likely something has went really wrong with your taxes and you have not taken any action to resolve that problem. You have 30 days to take action to prevent the levy from taking effect. Understand what your options are and how to prevent the tax levy.
If you have received a notice of intent to levy or you know a tax levy is looming, know your rights as a taxpayer and what options you have to stop the tax levy from going into effect.
A levy will remain in effect until the IRS has levied enough assets to satisfy the tax liability or the taxpayer has come to some form of agreement with the IRS in order to stop their collections. There are many different ways to release a tax levy and the method you use should be determined based upon your financial and tax situation.
Questions and answers to commonly asked questions about tax levies.
How to appeal the filing of a tax levy. There are many different circumstances in which a levy can be appealed. If you successfully go through the appeal and win, the levy will be stopped.
The IRS has broad powers to seize property of a taxpayer who didn’t pay their tax obligations. Understand how IRS seizures work, what can be seized & how they can be stopped.
Learn how we can help you resolve your tax levy. We will match you with the best tax professional to help with the levy, they will act quickly to minimize the impact of the levy on your personal assets.