When the taxman hits you with a levy, your money can be suddenly swiped out of your bank account, or your wages are suddenly frozen and you’re looking at living without a paycheck. There’s no more delaying it. Your time to react is now!

 Two (2) Guaranteed Ways to Get a Levy Released Quickly РNo Questions Asked

There are 2 sure fire ways to get an IRS levy released:

1. File Bankruptcy — Filing bankruptcy will result in an immediate release of an IRS levy. A bankruptcy filing results in a “stay” on collection actions by all creditors including the IRS. There is no need for financial disclosures or negotiations with the IRS. It is automatic by bankruptcy law.

2. Installment Agreement — If you owe the IRS $25,000 or less, you will generally qualify for a repayment plan or a streamlined installment agreement without providing financial disclosures. After filing this agreement, the IRS will immediately release it’s levy.

If you owe more than $25,000, you can sometimes pay down the amount you owe to bring your balance to less than $25,000, then apply for the streamlined installment agreement. The streamlined installment agreement will let you pay down your tax debt over sixty (60) months or less. If you owe $25,000, this would result in payments of around $425 a month. If you’re unable to make a payment of that amount, you have other options available, but will require a financial disclosure of your assets, liabilities income and expenses.

If you owe more than $25,000 and cannot pay down the debt, you still have other options available to you.

Two Other Ways to Get a Levy Released

There are two (2) other ways to get a levy released. You can also get levy relief where you have filed an offer-in-compromise or innocent spouse claim. File an offer in compromise or innocent spouse claim and you will automatically stop the IRS Collection activity on your account.

The filing of an offer in compromise will prevent the IRS from sending out future levies but does not necessarily release the existing one. However, given the right circumstances, the IRS has the discretion to release an existing levy once the offer in compromise is filed.

What to Do Next

Hopefully, it hasn’t gotten to this! Maybe it has … or maybe you’ve just received the Intent to Levy Notice where the levy is imminent.

These are just some of the techniques available to you is a brief summary. Dealing with the IRS requires an in-depth knowledge of IRS procedure and tax law. Anything but the simplest settlements should be handled by an experienced Taxpayer Resolution Representative in the settlement and negotiation of back taxes you may owe to help you get the best settlement option available to you.