What's a tax levy? A tax levy is where the IRS has been unable to collect a tax debt that you owe. The IRS can impose a tax levy on your wages, bank account, or any other assets you have; including vehicles, additional accounts, and possibly your home. One of the misconceptions is that the IRS comes to your door with a moving van ready to take everything you own as soon as you owe money.

Nothing you have is safe...While a tax levy, whether it is a bank, wage, or asset garnishment; can be devastating it doesn't happen overnight. The IRS has to make sure they've followed the proper procedure before they can start taking your property.

Know what they know...The IRS must have exhausted all other actions to collect on your tax debt before they can even issue intent to levy. The IRS revenue agent must document all actions that have been taken before intent to levy can be issued.

Running out of time...Once an IRS agent get the green light, they have to serve you a notice of intent to levy which you have 30 days in which to work with the IRS to come up with an alternate solution to a tax levy such as an Installment Agreement, Offer in Compromise, or some other way to get the tax debt you owe taken care of.

What can you do if you just need a little time to make good on your IRS tax debt? Is there a way to stall a tax levy?

Lucky for you there is; The IRS is prohibited from taking any kind of tax levy actions if the following conditions are met:

· There is insufficient equity in property for the net proceeds from the sale of the property to pay down the tax debt. There isn't much point in the IRS levying your property if they can't get anything from it.

· You are pending an IRS decision on an alternate payment method such as an Installment Agreement or Offer in Compromise. This keeps the IRS collectors at bay for the length of time your arrangement was being considered plus 30 days.

· If you receive a summons to appear in court then the IRS can not conduct a tax levy on that day.

· You are in bankruptcy...no collection actions can be taken until the bankruptcy statute has ended.

This is just a start...By no means is this a comprehensive list, but it does give you a start in knowing your rights when dealing with an IRS tax levy. In the next article I'll tell you some ways to get out of a tax levy.

Now you have the smoking gun...Use it!

Richard Close was an IRS-Hitman. He was a revenue officer who took out anyone that owed the IRS money. He left that behind and now helps thousands of Americans beat Uncle Sam and save thousands of dollars. The IRS-Hitman can help you with your tax debt problems. He has partnered with Tax Defense Network to offer free advice and tips on removing wage, bank, and tax levies; and arms you with the skills to slash your tax debt. Visit at: http://www.irs-tax-levy-hq.com Contact: http://www.taxdefensenetwork.com or call 1-888-248-9058