Final Notice of Intent to Levy
Time is limited once a Final Notice has been issued. You typically have 30 days to respond before enforcement begins. Taking action early can help protect your assets and potentially resolve the matter on more favorable terms.
Understanding one of the most critical alerts: intent to levy
Final Notice of Intent to Levy is a serious warning from the IRS stating that they intend to seize your assets (such as wages, bank accounts, property, or other assets) to satisfy unpaid tax debts.
Receiving a Final Notice of Intent to Levy can be alarming, but it’s important to understand that it’s also a call to action. This notice means the IRS has assessed your tax debt, sent you a bill, and you have not paid or made arrangements to settle the balance. Now, the IRS is legally allowed to proceed with enforcement.
The letter is a formal communication from the IRS stating that they are planning to take action to seize your assets in order to satisfy unpaid tax liabilities.
It is typically the last step before the IRS takes enforcement action, which could include garnishing your wages, levying your bank accounts, or even seizing and selling your property. This notice is typically sent after previous attempts to collect the debt have failed.