Individual taxes, Business taxes, IRS Collections, Liens and Levies
Lien vs Levy: 17 Essential Differences You Must Know If you owe back taxes, you will eventually hear the term lien vs levy. These are not the same thing. A lien is the IRS’s claim against your property for unpaid taxes, while a levy is the legal seizure of that...
Business taxes, Individual taxes, Interest and Penalties, Liens and Levies, Tax Debts and Collections
Tax season comes around every year whether you are ready or not. Most people prepare and file their returns on time every year. Maybe you are one of those people who, for any number of reasons, never got around to filing your return. Once you missed one return, the...
Individual taxes, Interest and Penalties, Liens and Levies, Tax Debts and Collections, Tax Scams
The Internal Revenue Service and Treasury Inspector General for Tax Administration (“TIGTA”) are still receiving complaints from taxpayers about unsolicited calls from people claiming to be from the IRS and demanding payment. The TIGTA has identified approximately...
Business taxes, Individual taxes, Liens and Levies, Tax Debts and Collections
A: A lien is a legal claim on property. A tax lien is a public record that puts your creditors on notice that the IRS has a claim against all of your property, including property you acquire after the lien is filed. The lien attaches to all of your property both...
Liens and Levies, Tax Debts and Collections
People are often confused about the various collection options available to the IRS and their effects. Two tools the IRS has in its arsenal are a lien and a levy, which they use aggressively. With respect to tax payers not paying their taxes and liabilities, a gentler...
