If the levy is causing a hardship, contact the IRS at the telephone number on the levy or correspondence right away to explain your financial circumstances.
The IRS will release the levy on your wages, bank, or other account if the levy is causing immediate economic hardship.
An economic hardship, as defined by the IRS, “occurs when we have determined the levy prevents you from meeting basic, reasonable living expenses. In order for the IRS to determine if a levy is causing hardship, the IRS will need you to provide financial information, so be prepared to provide it when you call. “
Remember that when a levy is released, that does not mean you are exempt from paying the balance. Work with the IRS to establish a payment plan or take other steps to help you pay off the balance.
When calling the IRS, have the fax number available for the employer, bank, or other financial institution to ensure quick action.