IRS Final Notice of Intent to Levy

An IRS Notice of Intent to Levy is a formal communication from the Internal Revenue Service notifying a taxpayer of their intent to seize assets to satisfy an unpaid tax debt.

The issuance usually follows a series of reminders from the IRS about an unpaid tax debt. If the debt remains unpaid and there’s no effort to establish a payment plan, the IRS may escalate to issuing a Notice of Intent to Levy.

Typically, you have 30 days from the date of the notice to respond, make payment, or make arrangements with the IRS to address the debt.

 If you receive such a notice, it’s crucial to take it seriously. Consider consulting with a tax professional, make arrangements to pay the debt, or explore other resolution options available to you.

Yes, it’s possible to negotiate with the IRS. Solutions can include establishing a payment plan, settling for a lesser amount through an Offer in Compromise, or proving that the levy would cause economic hardship.

The IRS can levy various assets, including wages, bank accounts, retirement accounts, rental income, accounts receivables, and even social security payments, among others.

Yes, there are several ways to stop or release a levy, such as paying the tax debt in full, setting up a payment plan, or demonstrating that the levy is causing immediate economic hardship.

If you’re unable to pay the full amount, you can explore options like payment plans, Offers in Compromise, or hardship status. The key is to communicate and work with the IRS to find a solution.

Yes, until the tax debt is fully settled, the IRS will typically continue to accrue interest and penalties on the outstanding amount.

You can seek guidance from tax professionals, including certified public accountants (CPAs), enrolled agents (EAs), or tax attorney, who are experienced in handling IRS notices and negotiations.

If you don’t pay the amount due, they may seize (“levy”) any state tax refund to which you’re entitled. This is your notice of intent to levy as required by Internal Revenue Code section 6331(d).

If you still have an outstanding balance after they seize (“levy”) your state tax refund, they may send you a notice giving you a right to a hearing before the IRS Office of Appeals, if you have not already received such a notice. The IRS may then seize (“levy”) or take possession of your other property or your rights to the property.

Property includes:

• Wages, real estate commissions, and other income
• Bank accounts
• Business assets
• Personal assets (including your car and home)
• Social Security benefits

If you don’t pay the amount due or call the IRS to make payment arrangements, they can file a Notice of Federal Tax Lien on your property at any time, if they haven’t already done so.

If the lien is in place, you may find it difficult to sell or borrow against your property. The tax lien would also appear on your credit report ― which may harm your credit rating ― and your creditors would also be publicly notified that the IRS has priority to seize your property.

If you do not agree with this notice, contact the IRS immediately at the number printed at the top of the notice. They will do our best to help you. If you have already paid this liability or arranged to pay it with an installment agreement, you should still call them at the number printed at the top of the notice to make sure your account reflects this.

Remember, you can always Appeal your case.

IRS Notice of Intent to Levy, Stop the IRS NOW + Former IRS