Continuous Effect of Levy on Salary and Wages - Unlike other levies, a levy on a taxpayer's wages and salary has a continuous effect. The levy attaches to future payments, until the levy is released. Wages and salary include fees, bonuses, commissions and similar items. All other IRS levies only attach to property and rights to property that exist at the time the levy is served.
IRS Wage Levy Example: If your bank account is levied, it only reaches money held in your account at the time the levy was served. It does not reach money deposited after. Hence, a bank levy is not continuous. An IRS Levy on your wages, paycheck, Social Security, Social Security Disability (SSDI) or Veteran's Pension is continuous and will remain until you either pay your tax liability in full or have it stopped and released.
Federal Payment Levy Program (FPLP)In July 2000, the IRS, in conjunction with the Department of the Treasury, Financial Management Service (FMS), started the Federal Payment Levy Program (FPLP) which is authorized by Internal Revenue Code Section 6331 (h), as prescribed by the Taxpayer Relief Act of 1997 Section 1024. Through the Federal Payment Levy Program, the IRS can collect your overdue taxes through a continuous levy on certain federal payments disbursed by FMS.
- Amending your tax returns (if appropriate),
- Eliminating the penalties and interest that have been added through a Penalty Abatement,
- Settling your tax liability through the IRS Offer in Compromise program
- Having you declared to be Currently not Collectible
- Negotiating an Installment Agreement based on the correct tax owed and what you can pay.
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