There are settlement options open to you.
For example:

• The Offer in Compromise (pennies on the dollar)
• Installment agreement (can be negotiated up to 5 years)
• Partial payment
• Innocent spouse or Injured spouse
• Abatement programs
• And more

Below is an example of waiting too long.

If you have received an Intent to Levy or a Notice of Levy from the Internal Revenue Service, this Levy can pertain to your checking and or savings accounts and can also include your spouse if your tax returns were filed jointly. The Levy generally will take ALL of the money in your accounts and the banking institution has no other choice but to honor the Levy. The amount of money that is Levied will stay at the bank for 21 days but will not be accessible to you or your spouse. It is in that time frame there is a possibility the Levy can be released. This release of Levy is based on many factors and here are just a few for example.

• Are all tax returns filed to date?
• What is the age of the debt?
• Is the Levy based on a 1040 return?
• Are you self-employed with employees and you failed to make the necessary deposits to the IRS?
• Is the Levy because of a divorce or unresolved issues with an ex-spouse?
• Are you an independent contractor with no deductions being withheld from your paycheck?

These are only a few examples. The effect of a Levy creates more problems than one might think. To begin with, any outstanding checks will be returned as insufficient funds. What if the check is for a mortgage payment or a car loan? Or the utilities on your home? Whatever the case, the Levy will leave you drained and once it is gone... IT'S GONE.

There are many cases where the amount of the actual Levy only paid the interest leaving the principal debt to keep accruing at a horrible interest rate. Will the IRS Levy your bank again? You bet they will, however you will never know when they are coming until you receive the overdraft notices from the bank. And remember, no matter how friendly you are with your personal banker, the Levy is out of there hands.

It is also probable that the IRS will issue a wage Levy or garnishment on your paycheck as well as your bank accounts. This Levy notice will go directly to your employer leaving you very little time to stop it. The amount of money that will be levied from your paycheck varies, and is based on your situation. There are many cases where the IRS has taken up to 80% of a person's paycheck, if not all of it, leaving you and your family living in total fear. There is a resolution to your situation. Call 888-301-0833 and find out. The IRS will not just go away by themselves!