Establish procedures for input, follow-up, and records maintenance of TC 971 requests. Installment agreements generally require equal monthly payments. An offer in compromise is a taxpayer's proposal to the government for settlement of a liability for an amount less than previously determined and assessed. See IRM 4.3.21 for a further discussion of Offers in Compromise. A Notice of Federal Tax Lien may be filed after a liability is assessed and full payment is not made within 10 days of issuance of a Notice of Demand for Payment.
Levies are different from liens.
A lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt. Internal Revenue Manual Hndbk.