Know Your Rights
A levy is the legal seizure of your property to satisfy a tax debt. But, unlike other creditors, the IRS does not have to take you to court to collect. If you owe the IRS and do not make the necessary arrangements to settle, they may legally seize and sell any type of real or personal property that you own or have an interest in. That includes your personal items such as boats, cars, houses, wages, retirement accounts, and even bank accounts.
A levy does not happen overnight, but action must be taken immediately once the IRS notifies you. Obtaining local representation will protect your rights and allow the matter to be resolved quickly without the hassle of having your personal property or bank accounts affected.