A tax lien is a lien upon your property that has been imposed by the government for delinquent taxes owed or a failure to pay taxes. Tax liens can be incredibly intricate and can vary in detail depending on individual situations. It does not mean that the IRS will seize your property, but it does ensure that it will appear on your credit report and that the government gets first right to your property over other creditors. If you have a tax lien on your credit report already, you know it will make it almost impossible to receive any credit or loans, either personally or for your business. It also impacts your credit score dramatically, making your finances very difficult to manage.
A tax levy, unlike a tax lien is when the IRS actually seizes property to satisfy a tax liability without even needing court permission. They are able to levy upon all assets in your possession including wages, vehicles, bank accounts, accounts receivable, social security payments, insurance proceeds, property and even personal houses. If you have received notification that a tax levy is being imposed the window to avoid losing your assets in very narrow.
Our financial experts have years of experience working within the IRS system and know several ways to resolve your tax liens and levies without your credit being destroyed. Our consultants will work day and night to help you solve your liens and get your tax levy released. If you have received a final notice, it is imperative you contact us right away, so our associates can get to work to ensure you don’t become the victim of a tax levy.