Tax Levies & Liens
Our Astute Tax Professionals Can Assist with Tax Levies and Liens
The Tax Professionals at Anderson Bradshaw Offer Fast, Effective Help with Tax Liens and Levies in All 50 States.
Tax Liens and Tax Levies
If the IRS is threatening you with a tax lien or levy, it can be hard to know where to begin. Fortunately, the skilled tax consultants at Anderson Bradshaw are ready and waiting to help.
- Personalized plan to deal with your tax problems.
- Expert analysis of your circumstances.
- In-depth knowledge of the tax system.
- First-rate outcomes.
With such an intricate knowledge of the tax system, our trusted team can negotiate an excellent deal on your behalf.
What Are the Differences Between an IRS Tax Lien and a Tax Levy?
Taxpayers who owe the IRS money can be subject to either tax liens or tax levies, and there are important legal distinctions between the two.
IRS Tax Liens
If the IRS sent you a tax bill and you ignored or refused to pay it, then a federal tax lien will be issued. Once that happens, a Notice of Federal Tax Lien is officially recorded in the county where you reside, own real estate, or do business. In this public record, the government informs your creditors that it has a lawful claim to your assets, which may include any real estate, stocks and bonds, automobiles, and equipment.
Tax Liens Can Affect Your Credit Rating
If your credit report states that a tax lien has been recorded, it could limit your chances of getting a loan, buying a house, or renting a property. It might even affect your capacity to obtain employment in certain industries.
Selling Your Assets
A tax lien doesn’t confiscate your assets or restrict your ability to sell them, but it does place the IRS at the front of the queue. So, even though you can still sell your property, any profits will go toward the IRS’s tax lien before you receive any money
Federal Tax Lien Release
To remove a tax lien, you can either settle the obligation in full or wait until the statute of limitations passes, which typically takes 10 years, and the debt becomes unenforceable. The IRS retains the right to file a tax lien against your assets, even if you have reached a payment arrangement.
If you’ve been threatened, we can provide tax lien help. Give us a call as soon as possible to get started
IRS Tax Levies
IRS tax levies are distinct from IRS tax liens. Where a tax lien secures the government’s right to claim a percentage of your assets, a tax levy allows the IRS to confiscate your property or other possessions to pay any outstanding tax debts.
Seizure of Assets
If you fail to make timely payments or set up suitable arrangements to resolve your debts, the IRS has the right to seize and subsequently sell any real estate, business assets, or personal belongings you own now or in the future.
IRS tax levies can be applied to a wide range of assets including bank accounts, wages, pension funds, personal property, vehicles, and business assets or equipment. However, the IRS seldom seizes a taxpayer’s principal residence, and this would normally be reserved for only the most extreme instances.
Things the IRS is Unable to Levy
There are some things the IRS is unable to levy. These include unemployment benefits, certain household goods, worker’s compensation, and work tools. Although the IRS cannot take real estate or other assets without filing a tax lien first, they can apply a tax levy without notice to your wages and bank account.
There is no public record of IRS tax levies, so they have no impact on your credit report. However, for most taxpayers, the seizure of assets poses a far greater problem.
If you’ve received a Final Notice of Intent to Levy from the IRS, call us immediately to access tax levy help.
The IRS Process Differs Between Tax Liens and Tax Levies
The primary distinctions between an IRS tax lien and an IRS tax levy lie in the way they are implemented. With a federal tax lien, you can file an appeal requesting a review within 30 days of the IRS filing for the tax lien.
With a tax levy, the IRS will issue a Final Notice of Intent to Levy. In most cases, you then have 30 days after receiving the notice to file an appeal. While you are waiting for a hearing date, the IRS cannot seize your assets.
At the hearing, the goal will be for you to manage the debt using an offer in compromise, an installment plan, or for your account to be put into Currently Not Collectible Status.
The IRS uses tax liens and tax levies as instruments of last resort. Immediately the IRS sends you a collection notice, you should contact us. That way our trusted team can devise an effective strategy before your earnings and assets are jeopardized.
Expert Tax Services from Anderson Bradshaw
In addition to tax liens and levies, we can help you with a number of other tax issues:
- Account reviews
- Offers in Compromise
- Installment agreements
- Wage garnishment
- Penalty abatement
- Innocent spouse relief
- Audit defense
- Foreign bank account reporting issues
How It Works
The sooner you contact us, the faster we can resolve your tax lien or levy problem.
One: A Complimentary Consultation
We’ll start by giving you a free consultation during which we’ll discuss your current finances and tax problems. Once we have the details, we get to work figuring out the best way to help.
Three: The Best Outcome
Our expert tax team will do everything possible to protect you and your assets from the IRS. With years of experience and a forensic working knowledge of the tax system, we’ll find exactly the right solution for you.
Protect Your Property, Bank Account, Wages, and Other Assets!
We’ve helped hundreds of people just like you to resolve their tax problems and make a fresh start. Call 877-550-3911 today to book a free consultation.
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