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7483 Form 001 Levy Instruction DOC

7483 Form 001 Levy Instruction DOC

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what is Levy or to issue or impose a levy well this is any form of compulsory government action now this is a very broad definition of what it means to Levy upon someone more specifically Levy is generally used when you have the seizure of property to satisfy some outstanding debt now with the government this is generally where you have some outstanding liability such as a tax debt and when that tax debt is not paid and that tax is attached to specific property then the government May Levy against that property such that it's sold and the debt is thus paid from the proceeds of the sale now Levy can be carried out by private creditors of an individual as well generally if these individuals receive a judgment against an individual they can identify specific property that the uh debtor owns and and have that judgment attached to that property then they can seek an execution order whereby the government facilitates the seizure and sale of that property to satisfy the outstanding de

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