The IRS Can Put Liens And Levies On Assets, Get Help With An IRS Liens Attorney
When it comes to unresolved tax debt, the IRS does not hesitate to take drastic action. Individuals and businesses are often surprised to discover that a tax problem has escalated to a potential IRS lien, bank/wage levy or the seizure of assets like cars, homes and valuable artwork.
IRS Liens
IRS liens can have a significant, negative effect on your credit report, property and finances. However, each situation is different, and liens affect people in different ways. One of the most challenging things that people experience regarding IRS liens – in addition to the negative effect on their credit reports or borrowing power – is the potential damage to their reputations when IRS tax liens are published in the public records.
People who make their living from their reputations, including corporate officers, realtors, mortgage brokers, financial advisors and political figures, are especially vulnerable to the effects of negative publicity. In addition, some professionals are not able to renew their professional licenses if they have a tax lien.
At The Gartzman Law Firm, P.C., our IRS tax liens attorney is dedicated to protecting our clients from the financial, professional and personal harm that can accompany an IRS tax lien. The staff at our Atlanta tax law firm use extensive knowledge and experience to achieve favorable outcomes in these situations, often representing clients who simply did not know about a tax situation such as an unfiled tax return or who were unwilling or unable to respond to the IRS or state taxing authorities for a long period of time.
We know that these things happen, and we offer nonjudgmental tax, legal and financial representation that is tailored to your individual circumstances.
Tax Levies
Tax levies give the IRS the power to take your money or property, meaning that they can take the money directly from your bank account or seize your property outright. For many people, this is devastating and leads to a significant loss from which they will struggle to recover.
At The Gartzman Law Firm, P.C., we are dedicated to protecting our clients’ interests by keeping money where it belongs: in our clients’ pockets. We negotiate with the IRS and find a path forward that helps keep your belongings and your money with you. We protect your income, including Social Security Income and other benefits you have from infringement.
Seizure Of Assets
The law gives the Internal Revenue Service broad power to seize assets as compensation for unpaid federal tax debt. People often have more to lose than they think, and it can be extremely difficult to reclaim items once they are lost to the federal or state taxing authorities. For this reason, it is best to act quickly if you believe that a seizure might be possible. Our experienced team knows how to take quick action to prevent IRS seizures.
FAQs: IRS Liens And Levies
It is natural to feel uncertain amid IRS collection actions. Understanding liens, levies and seizures helps you take informed steps.
What is the difference between an IRS tax lien and a tax levy?
A tax lien is a legal claim the IRS places on your property to secure payment of a tax debt. It does not involve taking your assets but can severely damage your credit and limit your ability to sell or refinance property.
By contrast, a tax levy is the actual seizure of assets like bank accounts, wages or physical property to satisfy the debt. While a lien is a warning shot, a levy is the enforcement action that follows.
How can I prevent a tax lien or levy from being issued?
To prevent enforcement, taxpayers should take one or more of the following steps as early as possible:
- Respond to all IRS notices promptly
- Enter into an installment agreement or offer in compromise
- Request currently not collectible status if eligible
- File any missing returns to avoid default assessments
- Seek professional representation to negotiate on your behalf
Swift action is critical. Once a lien or levy is in place, your options become more limited.
Does the IRS have to notify me before placing a lien or levy on my assets?
Yes, the IRS must provide written notice before filing a lien or levy. Liens require a Notice of Federal Tax Lien after assessing liability and demanding payment. For levies, a Final Notice of Intent to Levy must be issued and the IRS must wait 30 days before proceeding. However, in certain cases the IRS may act more quickly.
Why should I hire a tax attorney for an IRS lien or levy issue?
Collection actions involve complex procedures and deadlines. A tax attorney can:
- Evaluate your eligibility for relief programs
- Represent you in hearings or negotiations
- Protect your rights during asset seizures
- Help remove or subordinate liens to facilitate property sales
- Prevent further enforcement through strategic legal action
Without experienced legal guidance, you may miss critical opportunities to resolve your case favorably.
Contact Our Atlanta IRS Tax Lawyer For Help
Get a local leader in tax resolution on your side to fix your IRS or state tax problems, find tax relief and settle tax debt. Call us in Atlanta at 770-695-7337, or email us for an appointment today, your IRS Tax Relief Team. We aim for success in representation in handling potential liens, levies and seizures. Our goal is to settle your tax debt for the lowest amount possible while remaining in full compliance with the tax laws.