This is the IRS's forced collection instrument where they will sell your possessions in order to fulfill your unpaid back taxes. The IRS tax levy is the most deadly of all IRS collection methods. Once the IRS places a levy they can take your assets in order to cover for the tax debts that are outstanding. Getting an IRS levy removed means you typically need to come to an agreement with the IRS and they will agree to stop taking collection actions against you. There are many ways you can remove a tax levy, below are the most common methods.
- Pay the total tax amount in full – This is the most common sense way of resolving tax debts and getting a levy released. If you pay the tax amount owed in full, the IRS will immediately halt collection actions against you and the IRS will remove the levy.