What Happens once the IRS issues a tax levy?
The IRS is required to provide taxpayers with notification that a tax levy has been issued, along with an explanation of taxpayer rights. Taxpayers have the right to appeal within 30 days of a tax levy notice.
The IRS has the legal authority to seize the vast majority of a taxpayer's assets, but there are some assets that are exempt. For example, child support, basic clothing, and other basic necessities are off limits.
A tax levy should be resolved immediately to avoid unnecessary seizure of assets.
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