IRS Levy Release
When the IRS determines that a taxpayer owes taxes money, and assesses the taxpayer for that tax debt, the IRS then has the power to take possession of the taxpayer’s property without going to court to get a judgment. This is known as the IRS’s power to “levy.”
The IRS can levy a taxpayer’s money or property or both, whether it is real estate or personal property. It can be your car or jewelry, your paycheck, debts owed to the taxpayer, accounts receivable — almost anything that you, as a taxpayer own or expect to own in the future.
Taxpayers who have received a notice of levy, or have already been levied, can take steps to prevent the levy, or to undo one that has already taken place.