What Is a Notice of Levy?

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In the event that you owe a debt to the IRS and have failed to make payment or have not reached an agreement with regards to payments on the debt, one course of action that the IRS may take is a tax levy. This is where the tax office can seize property that belongs to you or in which you have an interest in order to recoup the money that you owe to them. Alternatively, the IRS can seize things such as wages, bank accounts and invoice payments in order to recover the debt.

If the IRS decides to opt for this route, they will send you a Final Notice of Intent to Levy and Notice of Your Right to a Hearing. This is called a Levy Notice and is issued to you at least thirty days prior to the levy. The way in which the notice is issued to you can vary and may be by post, in person at your home or at your place of business.

The Notice of Levy is something that is sent to you or delivered to you after the IRS has sent you a Notice and Demand for Payment, which you have then failed to pay and failed to contact the IRS about in order to make arrangements for payment. The IRS can also send you a Notice of Levy on your State Tax Refund. In order to avoid this type of action, it is important to ensure you contact the IRS as soon as you realize that you will struggle to repay the debt, as this can then result in an alternative solution that is agreeable to both parties.

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