What Happens When the IRS Issues an Intent to Levy?

If the IRS issues an intent to levy you need to know what is going to happen next, as well as how you can better your situation. This notice is telling you that the IRS intends to levy payments due to you, including salary, SSA benefits, OPM retirement benefits, or reimbursements. Other income, such as real estate, bank accounts, wages, commissions, and business assets can also be levied. The IRS does this because you have a balance due, and have yet to take the proper steps ion paying the money. An intent to levy may also tell you that a federal tax lien may be filed.
Now that you know what an intent to levy is, you should learn more about what you have to do next. Your best bet is to pay the amount due, in full, on the notice. By doing this the IRS will release the levy and your account will be in good standing once again. You can mail your payment in the envelope that the IRS provides – they make it simple for you to do the right thing. Also, make sure you include a copy of the notice to ensure that your account is properly credited. If you are not able to pay in full, contact the IRS to make other payment arrangements. This can include an offer in compromise or an installment agreement.
If the IRS issues an intent to levy you want to take immediate action. You should pay your balance immediately, or at the very least get in touch with the IRS to discuss your situation. From the date that you receive your notice, you have 30 days before the levy is issued.
If you decide that you are not going to pay the IRS has the right to forcibly collect the money that is due to them. One of the most common ways of doing so is issuing a levy against your federal payments. Along with this, a Notice of Federal Tax Lien may also be sent. This gives the IRS legal claim to your property. In short, if you do not pay the IRS they are going to come and take the money from you.
There is a good chance that you will have some questions on your mind after you receive an intent to levy. Rather than avoid these questions and hope that you find the right answers, pick up the phone and get in touch with the IRS. Along with this, do not forget that you are allowed to hire a tax professional. This is a great way to get assistance from somebody who is 100 percent familiar with the IRS levy process.
Those who do not agree with the information provided by the IRS have the right to file an Appeals Collection Due Process (CDP) hearing request. But remember, you only have 30 days from the time you receive your notice to request a hearing.
If the IRS issues an intent to levy it is important that you take the proper steps, without delay.