June 27, 2008, Newsletter Issue #69: Releasing a Levy

Tip of the Week

You can have your IRS tax levy removed (released) from your property whenever any of the following situations apply:

You paid the levy and all applicable costs in full.You have shown the IRS that the levy is causing undue financial hardship on you.You have shown the IRS that they have a better chance of collecting the taxes if they release the asset.The statute of limitations ended before you received the levy notice.You are involved in an installment agreement (unless it states otherwise) You have shown the IRS that the liabilities on the levied property are less than the fair market value. And, releasing the levy would not hinder collecting the taxes

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