IRS Offer in Compromise - Notice of Levy

A Notice of Levy is another method the IRS may use to collect taxes that are not paid voluntarily. This means we can, by legal authority, take and sell property to satisfy a tax debt. This could include your wages, bank accounts, Social Security benefits, and retirement income. If your tax liability remains unpaid, the IRS may also levy assets such as your car, boat, or real estate.

In addition, when you have an outstanding tax liability, any future federal tax refunds that you are due will be offset by the amount you owe. Any state income tax refunds you are due may also be levied, and the proceeds applied to your liability.

IRS Offer in Compromise - Notice of Levy