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This notice is telling you that the IRS intends to issue a levy against your social security benefits. They are entitled to levy a maximum of 15% of your benefits and will do so if corrective action is not taken. However, if continually ignored the IRS can levy a greater percentage. Once a settlement agreement with the IRS has been entered, the IRS will remove the levy. However, our experience is that the IRS is slow (one to two months) to removing social security levies.