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IRS Levy
An IRS levy is an aggressive means used by the IRS to collect tax debt.  The IRS can seize money from your bank account, a portion of your wages and property which can include your home, car or any other possession of value.  One the IRS places a levy upon you, it can be extremely difficult to get those assets back.   

The IRS will usually use a levy after the following three requirements have been met:
1.  They assessed the tax and sent you a "Notice and Demand for Payment."
2.  You neglected or refused to pay the tax.
3.  They sent you a "Final Notice of Intent to Levy and Notice of your Right to a Hearing" at least 30-days before the levy.  This final notice can be in person or by mail.

If you have a levy which has been issued by the IRS, it is best to talk to a qualified tax professional.  If the IRS places a levy on you, the levy will end once you pay your tax debt or the time expires for legally collecting the tax.  A tax professional can help you deal with the IRS and get your life back on track!

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