Function

• A levy on property serves to pay monies owed to the Internal Revenue Service due to unpaid taxes or unsettled debt. When property is levied, it is taken away and not just used as a security deposit, as in a lien.
  
  

Requirements

• There is a certain order of events that leads to having property levied by the IRS. The IRS must first assess the tax and send a "Notice and Demand for Payment" to the person. Should the person refuse or fail to pay the tax, the IRS must follow with a "Final Notice of Intent to Levy" and a "Notice of Your Right to A Hearing." Thirty days after these notices are sent, a property may be levied.
  
  

Considerations

• The IRS has the right to present their notices in several different ways including in person, delivered to the person's home or work location or it could be sent to the last known address of the person by certified or registered mail.
  
  

Solution

• Any person that receives a "Final Notice of Intent to Levy," may ask for their case to be reviewed by an IRS manager or request a "Collection Due Process" hearing with the Office of Appeals. This is done by filing the request within 30 days of receiving the notice at an IRS office.