The short answer
The IRS must release a levy that keeps you from paying basic, reasonable living costs. If you can't pay anything, it may place your account in currently not collectible status. Call the number on any levy notice right away and explain your hardship.
You still owe the debt, and interest keeps growing.
Words to know
- Currently not collectible (CNC)
- A status where the IRS pauses most collection because you can't pay basic living costs. You still owe the debt.