Define: Intent To Levy

An intent to levy is a legal notice sent by the IRS or other tax authorities to inform a taxpayer of their intention to seize their assets or property to satisfy a tax debt.

The IRS can issue an intent to levy after sending multiple notices and demands for payment, and if the taxpayer fails to respond or make arrangements to resolve their tax debt.

Assets that can be seized through an intent to levy include bank accounts, wages, real estate, vehicles, retirement accounts, and other valuable property.

Yes, the IRS can levy your wages by contacting your employer and instructing them to withhold a portion of your paycheck to satisfy your tax debt.

To prevent an intent to levy, you can take several actions such as paying your tax debt in full, setting up a payment plan with the IRS, or negotiating an offer in compromise.

Yes, you have the right to appeal an intent to levy. You can request a Collection Due Process (CDP) hearing within 30 days of receiving the notice to present your case and potentially stop the levy.

Yes, the IRS can seize your home through an intent to levy if you have significant equity in the property and other collection methods have been unsuccessful.

Yes, you can negotiate with the IRS to release an intent to levy by demonstrating financial hardship or by proposing an alternative resolution, such as an installment agreement or an offer in compromise.

Filing for bankruptcy can temporarily halt an intent to levy through an automatic stay. However, the IRS may still be able to resume collection efforts after the bankruptcy proceedings.

Ignoring an intent to levy can lead to severe consequences, including the seizure of your assets, garnishment of your wages, damage to your credit score, and potential legal action by the IRS.