IRS Liens and IRS levies are aggressive tactics used by the service in order to satisfy a tax debt.
An IRS lien is a legal claim that the IRS can place on a taxpayer’s property as security for the payment of taxes. An IRS lien gives the IRS a legal right to the taxpayer’s property, which means that the IRS can seize the property and sell it in order to pay off the taxpayer’s tax debt.
An IRS levy is a legal process by which the IRS seizes a taxpayer’s property in order to satisfy a tax debt. An IRS levy can be used to seize a taxpayer’s wages, bank account funds, investment assets, and other types of property.
Both IRS liens and IRS levies are serious legal actions that can have significant consequences for taxpayers. If you have received notice of an IRS lien or levy, it is important to take prompt action to address the issue and resolve your tax debt. You may want to consider seeking the assistance of a tax professional or an attorney to help you navigate the process and protect your rights.
When the IRS sends a notice that it intends to levy and seize your assets, you have a total of 30 days to challenge the levy by attempting tax resolution or by paying the amount in full. Your best bet is to avoid levies altogether, but if a levy has already been placed on your property, you must find professional assistance.
At IRSProb.com, we will guide you through the process of negotiating a release of the levy with the IRS by utilizing strategies depending on the nature of your case.