Levies and wage garnishments from the Internal Revenue Service (IRS) are specific actions the IRS takes to collect unpaid taxes. A levy from the IRS involves seizing a taxpayer's property, such as bank accounts, real estate, or other valuable assets, to satisfy the outstanding tax debt. The IRS has the authority to levy after providing a Notice of Intent to Levy, allowing the taxpayer to resolve the debt. On the other hand, wage garnishment by the IRS refers to the IRS instructing an employer to withhold a portion of an individual's wages to repay the unpaid tax debt. The employer must legally comply with the IRS instructions and send the withheld amount directly to the IRS until the debt is satisfied. Levies and wage garnishments from the IRS are serious measures aimed at enforcing tax compliance and ensuring the collection of delinquent tax payments.
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