Levy & Garnishment Releases

Releasing A Levy

IRS must release your levy if any of the following occur:

-You pay the tax, penalty, and interest you owe.

-IRS discovers that the time for collection (the statute of limitations) ended before the levy was served.

-You provide documentation proving that releasing the levy will help us collect the tax.

-You have an installment agreement, or enter into one, unless the agreement says the levy does not have to be released.

-We determine that the levy is creating a significant economic hardship for you.

-The fair market value of the property exceeds such liability and release of the levy on a part of such property could be made without hindering the collection of such liability.