Tag Archives: IRS Tax Levy

Crash Course: The Difference Between an IRS Lien and IRS Levy Explained

The IRS threatens a variety of consequences for nonpayment of taxes. While penalties and interest may be the first course of action, liens and levies are distinct possibilities for large balances not paid over a long period of time. While these repercussions hold many similarities, they’re quite different in practice, as highlighted below. Levies Versus […]

What’s the Difference Between an IRS Tax Lien and an IRS Tax Levy?

The Internal Revenue Service uses two main approaches to recover owed taxes: IRS tax liens and IRS tax levies. Both actions can prove disastrous for taxpayers, but in different ways. If you owe taxes, and you are at risk of collection, it is important to gain an understanding of these tactics and how they may affect […]

7 Ways and IRS Tax Levy Can Make Your Life Difficult

While a lien from the IRS stakes a claim against your property to pay off an IRS debt, an IRS tax levy actually seizes the property in order to pay the tax debt. The following three things will happen before the IRS issues a IRS tax levy: The IRS will issue a tax bill. You […]

Property Seizure Protection 101: Why the IRS Wants to Levy Your “Stuff” and What You Can Do About It

If you owe money to the IRS but haven’t paid, the agency can file a tax lien, a tax levy, and take seizure action against you. The lien will likely include interest, and the government can attach nearly all of your assets. However, you can take proactive measures to stop property seizure. Here’s how. Federal […]

How to Resolve an IRS Tax Levy

IRS tax levies are issued against bank accounts, accounts receivables, wages, and other sources of income when there is a delinquent tax liability.  IRS tax levies are usually issued under a circumstance whereby the client is not current or compliant, misses a deadline, or misses a payment on an installment agreement. When one of our […]