A levy is the IRS's way of getting your immediate attention because they have tried to communicate with you but you have ignored them. Levies are used to seize your wages and whatever other assets you have. If you own it, they can take it. That includes checking accounts, autos, stocks, bonds, boats, paychecks, and even Social Security checks!
As bad as that is, a worse method is a wage levy (or garnishment). That's when most of your pay check goes to the IRS. They don't leave you enough to pay the bills. Most of your paycheck goes to the IRS each and every week until the debt is paid.
If that doesn't accomplish what they want, they'll pull out all the stops. They'll seize your assets, and sell them at auction. That includes everything you own; home, cars, boats, jewelry, motorcycles, insurance polices, retirement funds, anything of value.
Our goal is to get you in compliance with the IRS, with what you can afford, and let you start life anew.