A Notice of Intent to Levy

A Notice of Intent to Levy is a formal document issued by the Internal Revenue Service (IRS) or other tax authorities, warning a taxpayer of impending collection actions. Key points include:

1. Informs the taxpayer of outstanding tax debt

2. Warns of potential seizure of assets or income

3. Provides a deadline for response or payment

4. Outlines taxpayer rights and appeal options

5. May include details of the amount owed and penalties

This notice is a serious step in the collection process, indicating that the tax authority is prepared to take forceful action to collect unpaid taxes. It typically follows previous attempts to collect the debt through less aggressive means. Upon receiving this notice, taxpayers should act promptly to either pay the debt, negotiate a payment plan, or contest the levy if they believe it’s in error. Ignoring the notice can result in the seizure of bank accounts, wages, or other assets. It’s advisable to seek professional tax advice or legal counsel to navigate this situation effectively.