What is an IRS levy and how can you stop it? An IRS levy occurs when an asset is seized to pay off your tax debts to the IRS. This levy from the IRS is a legal seizure, and different from a lien in that it is an actual seizure, not just a claim.
The IRS levy can only take place under proper circumstances and process. The IRS must assess the tax you owe, which then must fall into default. If...Read More
What is an IRS Levy?
If you owe the IRS money, you will quickly find out what an IRS levy is, but for those who have not experienced this situation, an IRS levy comes about when the IRS garnishes one’s wages to collect tax debt. This is usually something that happens after various other forms of debt repayment are suggested — the next solution the IRS will hand out is jail, so know that an IRS...Read More