If you are facing an IRS levy as the result of failure to pay your taxes or to come to some arrangement with regards to paying your taxes, there are a number of options that could result in the IRS levy being stopped. This includes the following:
- Pay off the tax debt: If you pay off the tax debt in full you can stop the tax levy. This includes paying any interest and penalties that have been imposed.
- Set up an arrangement: If you set up a formal repayment arrangement for the amount you owe with the IRS you can stop the tax levy.
- Set up a partial payment agreement: Depending on your financial circumstances, you can also set up a partial payment agreement that would result in lower payments than a regular agreement and would mean paying off less of the total debt.
- Make an offer in compromise: Another solution that you may be eligible for is an offer in compromise, where you make a reasonable repayment offer that may be accepted in place of the actual amount that you owe.
- Prove financial hardship: If you are hit by a tax levy but you can prove that it is causing you financial hardship, the levy may be removed.
- Appeal the tax levy: Another option you can look at is appealing against the tax levy. There is no guarantee that this will result in removal but if you have a valid case you may be able to get it removed.
- Speak to an expert: Discussing the case with an expert tax accountant is also advisable, as this could help you to find a suitable solution to get the tax levy removed.
These are all potential ways in which you could get the IRS tax levy removed.