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Requirements for an IRS Levy Release

If your personal property has been levied by the IRS, you may be eligible for a release in certain circumstances.

The IRS will consider a levy release under the following conditions:

The taxpayer has paid the taxes, interest and penalties owed
The collection statute of limitations ended prior to the levy being served
Documentation has been provided by the tax payer demonstrating that the levy release will enable the tax debts to be repaid.
The taxpayer has an instalment agreement in force
The taxpayer can prove that the levy is creating substantial financial hardship
The property's fair market value exceeds the liability owed and a partial levy release could allow for the debts to be repaid without full collection of the property.


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If your property has still been levied, there are some circumstances in which the IRS will release your property. Some common examples include: you have paid the entire tax debt owed including all associated penalties and interest, you furnish proof of bond, you have entered into an escrow arrangement with the IRS, you have entered into an agreeable payment plan with the IRS or the taxpayer successfully proves that the sale of the levied personal property will incur greater costs than the value of the underlying property.

There are also instances in which a tax professional can assist you in retrieving levied property. If the IRS did not follow their own internal procedures, if the levy occurred prior to the required notices being sent to the taxpayer or the levy was not released despite a payment plan agreement being in force, you may be able to have your levied property returned to you.

For more information about your IRS levy rights, contact one of our tax professionals at 1-877-658-3477. Let our 27 plus years of experience go to work for you in relieving IRS stress, IRS levy pain, and IRS audit frustration.