Our new website is optimized for the most current web browsing technology. If you are using an older web browser, part of our website may not function properly as designed. Please consider upgrading your browser for an error free experience.
At Solvable, we care about your financial well-being and are here to help. Our research, articles and ratings, and assessments are based strict editorial integrity. Our company gets compensated by partners who appear on our website. Here is how we get compensated.
At Solvable, we care about your financial well-being and are here to help. Our research, articles and ratings, and assessments are based strict editorial integrity. Our company gets compensated by partners who appear on our website. Here is
See More
The IRS can levy (seize) your assets if you owe taxes you have not made arrangements to repay.
Many taxpayers can avoid a levy by entering into an installment agreement.
Seek help from a tax professional if you can’t afford to make even a small monthly payment toward your balance.
An IRS tax levy occurs when a taxpayer ignores tax collection attempts from the agency. The levy allows the IRS to seize wages, bank accounts, real estate, vehicles, business accounts receivable, and other assets to repay the past-due back taxes. If you’ve received notice of a levy, these are the steps you need to take immediately to protect your property from seizure.
Understanding a Lien vs. a Levy
Although the words lien and levy are sometimes used interchangeably, these terms actually represent two separate steps in the IRS collections process. A lien is issued to give the IRS legal claim over the property in question, while the levy is the action of taking that property and selling it to satisfy the back taxes.
When a lien is placed on your property, the IRS has a legal right to the proceeds if you sell that specific asset. If you do not take action to settle the back taxes once a lien has been placed, you may receive a letter titled Final Notice of Intent to Levy.
The IRS Collections Process
Taxpayers have several opportunities to make arrangements for back taxes repayment before a levy takes effect. You will receive four notices about your tax balance before you receive the Final Notice of Intent to Levy, or Form CP90. Here are the other notices you will receive:
Notice CP14, Status 21. This form states your assessed federal tax liability and outlines the collection actions that will take place if you do not make arrangements to repay your taxes. It also discusses the penalties and interest that will be assessed on your past-due balance.
Notice CP501, Status 20. This recaps the information from the first letter and indicates that you are still subject to collection actions.
Notice CP503, Status 56 serves as a reminder that your property and assets can soon be seized if you do not make arrangements to pay your taxes.
Notice CO504, Status 58, is the final letter you’ll receive before the Notice of Intent to Levy. This is sent through the U.S. Postal Service and requires a return receipt.
Ways To Stop a Federal Tax Levy
It’s important to act quickly once you receive a Final Notice of Intent to Levy. There are many actions you can take to stop an IRS tax levy.
Request a collection due process hearing within 30 days of receiving the notice
Enter into an installment agreement to repay your back taxes. You’ll need to make several payments toward this agreement before the levy will be released.
Request an offer in compromise (OIC), in which the IRS agrees to settle your back taxes for less than you owe. Make sure you qualify for an OIC before going this route, as you will be required to pay nonrefundable application fees.
Repay the full balance of your back taxes. If you do not have the funds to do so, you may consider refinancing your home or taking a home equity loan, applying for a personal loan, or using credit to pay off your back taxes. For the latter option, make sure you choose a card that has a lower interest rate than is charged with an IRS installment agreement.
Seek currently not collectible (CNC) status. This means that the IRS’ attempts to collect your back taxes would result in an undue hardship, as you would be unable to meet basic living expenses. To qualify for CNC, you must submit detailed financial information to the IRS. Keep in mind that this status will be reviewed every year or two. If your financial situation changes, you will once again be liable for the back taxes.
Types of Installment Agreements
For many taxpayers, entering into an installment agreement with the IRS is the most effective way to avoid a levy. This means that you’ll make monthly payments toward your back taxes until the full balance is repaid, including penalties and interest. Depending on your specific situation, you may qualify for one of three types of installment agreements.
Guaranteed Installment Agreement
A guaranteed installment agreement is available for taxpayers who owe less than $10,000 and have filed all outstanding tax returns. You must be able to pay off the entire balance in no more than 36 months, and you are not eligible if you have had an installment agreement with the past five years. If you meet these criteria, the IRS must enroll you in a monthly payment agreement and will not pursue additional collections actions if you comply with the terms of the agreement. In addition, you will not be subject to a federal tax lien. This public record can make it difficult to be approved for mortgages and other types of loans.
Streamlined Installment Agreement
Streamlined installment agreements are available for taxpayers who owe up to $50,000. You must be able to repay your balance within 72 months, file all past-due returns, and agree to pay any future assessed tax on time. The availability of this program was expanded by the IRS Fresh Start Initiative.
Partial Payment Installment Agreement
If you are unable to qualify for either the guaranteed or streamlined installment agreement, you may be a candidate for a partial payment installment agreement. With this type of plan, you can take longer than 72 months to repay your back taxes. However, you will still be subject to a federal tax lien, which can damage your credit. To get started, you need to submit financial information to the IRS. It will use this data to determine the size of monthly payment you are able to make.
Let Solvable Help You Stop an IRS Tax Levy
If you need help making payment arrangements with the IRS or establishing non-collectible hardship status, contact the team at Solvable today. We’ll match you with a highly reviewed company with experience in helping taxpayers like you. Avoid seizure of your property and move toward a brighter financial future.
Solvable is a for-profit company that connects consumers with third-party providers across a wide range of financial and home service categories, including tax resolution, personal loans, credit cards, student loan refinancing, home insurance, and home services. Our platform is free for consumers to use, and we may receive compensation from partners when users engage with their products or services.
We publish a mix of editorial content and partner-supported features. Some articles may include sponsored offers or affiliate links, which are clearly labeled. While compensation may influence which products are featured or where they appear, it does not affect our editorial opinions or reviews. We do not accept payment in exchange for favorable ratings or endorsements. Reviews and assessments reflect our own independent views and may not cover every option available.
How We Make Money
Solvable is compensated by some of the companies featured on our website. Most often, we receive fees when a user clicks on a link, fills out a form, applies for, or obtains a product or service from one of our partners. These may include providers of financial services (like loans and credit cards), tax assistance, home insurance, and home services.
We may also earn fees for:
Capturing consumer inquiries and stories
Writing articles that are relevant to a partner’s audience or offerings
Displaying advertisements
Sponsoring specific content, tools, or sections of our website
This compensation may affect where and how certain products or services appear on our site, including:
Article pages
Comparison tables
Matching results
The order or prominence of listings
Solvable has not reviewed or written about every product or service available in the marketplace. We do our best to provide helpful information, but our recommendations are based on available data and editorial judgment—not comprehensive analysis.
In addition, we may be compensated in the following ways:
Referrals to consumers who use online forms or tools that may connect them with experts;
Marketing services related to tax resolution, tax preparation, tax audit help, and general tax assistance;.
Referrals to providers in categories such as financial services, tax support, home insurance, and home services.
We encourage you to shop around, compare services and costs, and perform your own due diligence before making a decision—especially since individual experiences with providers can vary over time.
How We Share Information
When you submit a form or request on Solvable, the information you provide may be shared with one or more of our advertising partners. These partners may contact you directly with offers related to the product or service you inquired about, and they may also use your information for their own marketing, outreach, or business purposes.
In many cases, the partners you are matched with may retain ownership of the information you provide and may use it in accordance with their own privacy policies and practices. Once your information is shared, Solvable does not control how it is used.
We strongly encourage you to review the privacy policies, terms of service, and marketing practices of any provider you engage with to understand how your data may be used or stored.
For more information about how Solvable collects and handles your information, please refer to our Privacy Policy.
Free Solvable Services
The offers you’re matched with through Solvable are from companies, attorneys, or service providers with whom we may have a paid relationship. Based on our initial screening, we believe these providers may be a good fit for consumers, but we do not make guarantees about their services or results. We do not recommend providers solely because they pay us. However, we may prioritize or display offers from partners with whom we have an existing business relationship.
We encourage all users to:
Shop around and compare costs, services, and reviews
Conduct independent research before making a decision
Ask questions directly to the provider before signing any agreements
Solvable is not a law firm and does not provide legal advice. If you’re working with an attorney or financial professional, we encourage you to speak with them about your specific situation, as they will be most familiar with your needs and the laws in your state.
Our goal is to make it easier for you to explore your options, but the decision is ultimately yours.
Personal Loans Advertiser Disclosure
The personal loan offers you see on Solvable are from companies or affiliates that may compensate us. This compensation may impact where offers appear on the site, including their order, prominence, or whether a lender is featured. Solvable does not include every personal loan provider or all available offers in the marketplace.
Loan approval and terms are determined solely by the lender. You should carefully review each provider’s terms and conditions to find the option that best fits your financial situation. We make reasonable efforts to keep information up to date, but rates, fees, and terms are not guaranteed and may change at the discretion of each provider. There is no guarantee you will be approved for credit or that you will qualify for the advertised rates or terms.
Be sure to:
Review actual loan terms directly with the lender
Ask about origination fees, which can typically be around 1%
Understand all costs, repayment terms, and requirements
Know that some lenders may require an existing account or specific credit profile for approval
Loan amounts typically range from $1,000 to $35,000, but the amount you qualify for, and the terms offered, will depend on your state, credit history, financial situation, and the lender’s underwriting criteria.
Credit Card Advertiser Disclosure
Some of the credit card offers featured on Solvable are from companies or affiliates that may compensate us. This compensation may influence how and where products appear on our site, including their order or whether they’re labeled as “featured.” Solvable does not include all credit card companies or offers available in the marketplace.
Credit card approval is determined by the individual issuer. We recommend reviewing each provider’s terms and conditions to ensure the card fits your financial needs.
We strive to provide accurate information, but rates, fees, and terms are not guaranteed and may change at any time at the discretion of the issuer. Approval is not guaranteed, and advertised rates or rewards may not be available to all applicants.
Please keep in mind:
Information is provided by the card issuer and may not reflect real-time updates
Any opinions, reviews, or recommendations are those of the author and/or Solvable
They have not been reviewed or endorsed by any credit card issuer
You should always verify the final terms and disclosures on the issuer’s official site before applying
When you click “Apply Now,” you’ll be taken to the credit card provider’s website where you can review the full terms and submit your application.
Business Loans Advertiser Disclosure
Some of the business loan offers featured on Solvable are from companies or affiliates that may compensate us. This compensation may influence how and where products appear on our site, including their order or whether a lender is featured. Solvable does not include all business loan providers or offers available in the marketplace.
Business loans are intended strictly for commercial purposes. Any funds or assets obtained through these loans must be used for business-related activities—not for personal, family, or household use.
Most business funding partners in our network do not require collateral, but depending on your needs and the lender’s underwriting criteria, you may be offered other financial products. Traditional bank and SBA loans often require collateral and have more extensive approval processes.
It’s important to understand:
There is no one-size-fits-all business loan solution
Offers and terms will vary depending on your business’s financial profile
Underwriting criteria, approval, and terms are determined solely by each lender
Rates, fees, and availability are subject to change and are not guaranteed
Not all products are available in all states or for all types of businesses
We encourage you to review each provider’s terms and consult with a financial advisor or tax professional before accepting any loan offer.
Student Loan Refinancing Advertiser Disclosure
Student loan refinancing offers featured on Solvable are from companies or affiliates that may compensate us. This compensation may impact where and how offers appear on our site, including the order in which they appear or whether a lender is featured. Solvable does not include all student loan companies or all available refinancing options in the marketplace.
Pursuant to agreements with our partners and affiliates, Solvable may receive updates about the status of your application, including—when available—loan amounts, application status, or final decisions. Each partner’s use of your information is governed by their own privacy policy, which we encourage you to review directly.
Refinancing may help reduce your monthly payments or interest rate, but potential savings will vary depending on the interest rate, balance, and remaining repayment term of your existing loans. In some cases, refinancing may result in a longer repayment term and higher total repayment over the life of the loan—even if monthly payments are lower.
Please keep in mind:
Variable rates may fluctuate over time based on market indices like SOFR, Prime, or another benchmark rate, and may vary based on borrower qualifications and whether a co-signer is used.
Fixed interest rates may also depend on term length, credit profile, or presence of a co-signer.
All terms, rates, and product availability are subject to change at the lender’s discretion and may not be available in all states or for all types of loans.
Due to federal lending regulations, lenders are required to provide potential borrowers with certain disclosures, including an Application Disclosure and an Approval Disclosure, during the application process. Solvable is not a lender or creditor and does not originate or fund loans, nor can we alter or offer credit terms. Only the lender you apply with can provide specific loan details and required disclosures.
Please Note:
Certain federal and private loans may not be eligible for consolidation or refinancing.
Some refinancing options may eliminate borrower benefits (e.g., grace periods, income-driven repayment plans, or federal loan forgiveness eligibility).
Loans in default typically cannot be refinanced until you complete a qualifying repayment program.
Be wary of providers requesting upfront fees for student loan services.
Other financial options—like personal loans, debt relief, or consolidation—may also be worth exploring. Consult with a licensed financial or tax professional to determine what’s best for your situation.
Home Insurance Advertiser Disclosure
Home insurance offers featured on Solvable are from companies or affiliates that may compensate us. This compensation may impact how and where offers appear on our site, including whether a company is featured or the order in which it is listed. Solvable does not include all home insurance providers or all offers available in the marketplace.
Each provider sets its own underwriting criteria, and coverage availability may vary based on the age, condition, location, and value of the home. Policy terms, limits, exclusions, and pricing are determined by the insurer and may change at any time.
Solvable is not a licensed insurance agency and does not issue policies or offer insurance advice. We recommend that users:
Compare quotes from multiple home insurance providers
Review coverage options, exclusions, and deductibles carefully
Confirm all terms directly with the insurer
Speak with a licensed insurance agent if you have questions about your specific needs
Home Services Advertiser Disclosure
Home service offers featured on Solvable are from companies or affiliates that may compensate us. This compensation may affect how and where offers appear on our site, including their placement, order, or whether a provider is featured. Solvable does not include all home service companies or all available options in the marketplace.
Services may include HVAC repair, plumbing, electrical work, home cleaning, appliance maintenance, and other residential needs. Providers set their own pricing, availability, and service standards.
Solvable does not provide home services directly and does not guarantee the quality or reliability of any third-party service. We recommend that consumers:
Compare multiple providers and read recent customer reviews
Ask about service guarantees, pricing structures, and insurance or licensing where applicable
Confirm all details directly with the provider before scheduling any service
Important Notice About Solvable’s Role
Solvable is an online lead generation platform that allows consumers to compare rates, terms, and offers from a network of lenders and service providers. We do not offer, extend, or fund any loans. Instead, we connect users with lenders who may be able to help based on the information submitted through our forms.
Submitting an inquiry on Solvable is not a loan application. To move forward, you must speak directly with the lender, review their terms, and complete any application materials they require. Lenders in our network may not offer the lowest available rates, so we encourage you to compare quotes from multiple sources—including banks, credit unions, and other financial institutions—to ensure you’re getting the best deal.
Solvable does not guarantee loan approval, interest rates, or potential savings. Any estimated savings or quotes are for informational purposes only and may not reflect your actual terms. Final rates, loan amounts, and eligibility are determined solely by the lender based on their underwriting criteria, which Solvable does not control or have access to.
Download Now!
Congrats! You're One Step Closer To Resolving Your Tax Debt.
Recommended
