Small Business Tax & Bookkeeping Blog | Zero Fluff Books

Fresh Start is not a single settlement application or guaranteed debt-reduction program. It refers to IRS collection-policy changes and is now mainly a marketing label for ordinary collection alternatives with separate eligibility rules.

A levy is the IRS's legal seizure process. A wage levy is one type of continuing levy, while bank levies generally capture funds held when the levy is received. Notice requirements, exemptions, release rules, and third-party obligations differ.