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A release of levy or certificate of levy release is issued once either a liability is paid in full or you reach a formal agreement to start paying back your debt. In which case the certificate of levy release is faxed to your employer and /or bank instructing them to release the monies levied (in the case of a bank levy) or to stop garnishing a portion of your paycheck (in the case of a wage levy.) In order for the IRS to issue one of these (if you are dealing with a federal tax liability) you will have to negotiate either an installment agreement or provide documentation and negotiate a Currently not Collectible status with them. This status tells the IRS to stop garnishing and or enforcing collections since you cannot afford to either pay the debt or enter an installment agreement. Finally, a wage or bank levy can be released if you can show the IRS that you will loose your home, be evicted or have your water disconnected if the levy continues or take place. This is done by filing form 911 with the IRS. See the Related Link to a blog with all sorts of information about taxes.
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