The department shall release any levy issued or on any property in the event of any of the following:
(1) the liability for which the levy was made is satisfied;
(2) the department determines that release facilitates the collection of the liability;
(3) an installment payment agreement has been executed with respect to the liability;
(4) the department has determined that the levy creates an economic hardship due to the taxpayer's financial condition;
(5) if the department determines the fair market value of the property exceeds the liability and partial release does not hinder collection of the tax and related costs owed to the department.
HISTORY: 1995 Act No. 76, Section 6.
Structure South Carolina Code of Laws
Chapter 58 - South Carolina Taxpayers' Bill Of Rights
Section 12-58-10. Short title.
Section 12-58-20. Administration of chapter.
Section 12-58-30. Taxpayers' Rights Advocate established; duties.
Section 12-58-40. Taxpayer education and information program.
Section 12-58-70. Deficiency and tax due notices; contents.
Section 12-58-80. Evaluation of department employee's performance.
Section 12-58-90. Hearings; recording; taxpayer to be informed of rights.
Section 12-58-110. Investigation or surveillance limited to department's responsibilities.
Section 12-58-120. Release of levy issued or on any property.
Section 12-58-150. Appeal procedure for modifying or releasing liens.
Section 12-58-165. Expungement of a recorded lien.
Section 12-58-180. Applicability of provisions to taxes administered by department.
Section 12-58-185. Extensions of payment periods; grounds; restrictions.