Release of Levy or Seizure
Once IRS begins enforcement action and levies on bank accounts, seizes your assets, or garnishes your wages, it is usually difficult to get a release without first submitting financial information about yourself and/or your business (IRS Forms 433A and 433B), and entering into a payment agreement or making an offer in compromise. If financial hardship can be demonstrated, relief may be granted sometimes through the Taxpayer Advocate’s Office. In extreme cases, bankruptcy may be the only way to stop the IRS.
Once IRS begins enforcement action and levies on bank accounts, seizes your assets, or garnishes your wages, it is usually difficult to get a release without first submitting financial information about yourself and/or your business (IRS Forms 433A and 433B), and entering into a payment agreement or making an offer in compromise. If financial hardship can be demonstrated, relief may be granted sometimes through the Taxpayer Advocate’s Office. In extreme cases, bankruptcy may be the only way to stop the IRS.
