When the IRS issues a notice that it intends to levy and seize your assets you have 30 days to challenge the tax levy to attempt tax resolution or pay the amount due. If you cannot pay the tax debt in full before the IRS is scheduled to seize your assets, you may be able to remove the tax levy by setting up an installment plan with the IRS or by making other arrangements.
The best course of action is to work out a mutually agreeable solution with the IRS and avoid the levy in the first place. Levies allow the IRS to collect the money that it is owed. Therefore, if you can raise the cash to pay your debt in full, including penalties and interest, within a reasonable period, the IRS will release its levy right away.
The Best Ways to Release an IRS Tax Levy:
If you demonstrate to the IRS that you will be more likely to be able to pay the tax you owe or if you wish to sell real estate or some other valuable asset, but cannot do so while a levy is in place, you may request a release. In such cases, the understanding is that you will apply all or part of the proceeds of the sale to pay your overdue tax bill.
We have the experience to put your case in the best possible position with the IRS. Call for a free tax consultation at 605-646-3585.
We are proud to have successfully served tax resolution clients in the following States
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico