Tag Archives: IRS Tax Lien

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 […]

The Pharma Bro Case: Important Takeaways for How NOT to Deal With the IRS

“Pharma Bro” Martin Shkreli is best known for hiking the prices of life-saving medications by an astounding 5,000 percent. He has also made waves with his snarky commentary on the pharmaceuticals industry. These actions, while reprehensible in the eyes of his detractors, did not lead to his recent incarceration. Rather, he got in trouble with […]

Floyd Mayweather’s Tax Problems, What Can We Learn from Them? (Part 1)

The tax woes of Floyd “Money” Mayweather made their way into the spotlight earlier this summer, as ESPN reported that the undefeated professional boxer has a lien from the IRS in the amount of $7.2 million for taxes owed from 2010—in addition to $22.2 million he allegedly still owed in taxes for 2015, for the […]

3 Ways an IRS Tax Lien Can Cause Problems – Both At Work And At Home

A federal tax lien is the government’s claim against your property if you fail to pay or otherwise ignore a debt. A tax lien only occurs after the IRS assesses your liability and sends you a bill for how you much you owe–but you neglect to pay the bill in time. The best way to […]

What Happens When an IRS Tax Lien is Placed on Your Property – and What Can You Do?

Being hit with an IRS Tax Lien is an anxiety- and stress-ridden event, but understanding the action can help you navigate the process. The process begins when the IRS files a Notice of Federal Tax Lien, and this notice goes on your credit. The result is that the lien essentially diverts any income coming to […]

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 […]

4 Strategies to Handle IRS Tax Lien Issues

If you fail to pay your taxes, the IRS can legally file an IRS Tax Lien. Generally, here’s how this scenario plays out. First, the agency determines that you owe taxes and mails you a bill with the amount due. Next, you fail to pay the amount owed. As a result, the agency places an IRS […]

$180,000 IRS Tax Lien Removed!

The IRS tax lien affects your credit, ability to obtain credit, refinance, borrow, etc.  It also hinders your ability to start and operate a business. Feel free to read more about the IRS Tax Lien removal process on our webpage at IRS Tax Lien. Our client came to us and had the IRS tax lien […]