A Levy is a legal seizure of your property to satisfy a debt. A tax levy is different from a tax lien in that a lien is a security in support of a tax debt, whereas a levy is the actually taking of property used to satisfy a tax debt. If you have a tax debt that is unpaid, and you have not made arrangements to pay that debt, the IRS may seize any of the following;
If the IRS determines that you are available to be levied, a Levy is usually only issued after certain requirements are met by the IRS.
If the IRS decides to levy your wages, your employer will be required to confiscate up to 70% of your wages in order to satisfy your tax debt. The Levy will NOT stop until the tax debt is paid in full.
Challenging your levy may be an option in certain instances. If you can prove to the IRS that your levy is creating an extreme economic hardship, they may reduce or cancel the levy all together.
Knowing the right things to say in order to get your levy lifted is imperative. If you say the wrong thing or present the wrong evidence in your appeals case, you are done! Legal representation is the best way to go in these types of cases. Let our experienced mediators work with the IRS on your behalf in order to get your levy removed and restore your order to your life.