An IRS levy can permit the IRS to seize your physical property like your car or real estate, or it can allow them to garnish your wages or seize money from your bank account to satisfy your tax liability. One way to stop an IRS levy is to pay the amount you owe in full, but you still have options if this is not possible. Highland Tax Group can help you work with the IRS to stop a levy and resolve your tax liability.
How to Stop an IRS Levy
The best way to stop the IRS from issuing a levy against you is to comply with all IRS bills and notices. If you have racked up debt and cannot afford to pay what you owe in full, the IRS recommends paying as much as possible and contacting them as soon as possible to set up a payment plan. Once the IRS has issued you a Final Notice of Intent to Levy, you will still have a chance to make a timely request for a hearing to set up a payment plan or request that you be allowed to remit payment for an amount lower than what you owe and stop the levy against you.
How to Get an IRS Levy Released
If the IRS has already issued a levy against you, you can still request a hearing to negotiate the details of an installment agreement or other compromise to resolve your liability without paying off your debt in full. You can also request that the IRS release a levy against you if it is causing you such excessive economic hardship that you are unable to meet basic living expenses.
How an Experienced Tax Group Can Help
Dealing with the IRS alone can make you feel like you are in over your head, but navigating the process of an IRS levy comes with its own set of complex procedures. If you are facing a levy and cannot afford to pay what you owe in full, we can help you work with the IRS to settle your debt. Contact the Highland Tax Group to speak with one of our professionals today.