A federal tax lien and account levies are additional aggressive actions the IRS will take to penalize you and collect the money you owe without you paying the IRS directly. The tax lien will appear on your credit report it makes it nearly impossible for you to obtain a loan for any purpose. Account levies will enable the IRS to take money directly from your financial accounts, including checking, savings or retirement accounts.
If you fail to respond to IRS notices to pay a tax debt, the IRS can file a federal tax lien against you, making your life miserable. Federal tax liens are filed with the County Clerk where you live or where your business operates, and because they show up on your credit report, make it difficult or impossible to obtain any type of financing for any purpose. You cannot sell or transfer your property while a tax lien is filed against it, and since you won’t be able to borrow against it, you will not be able to use it to obtain a loan to pay off the back taxes you owe.
Another action the IRS will take to collect back taxes is to levy your accounts and your sources of income. For example, the IRS can seize the cash you have in all your savings and checking accounts by issuing a bank levy, and file a levy with your employer that garnishes up to 80% of your wages, commissions, bonuses, etc., until your debt is paid in full. If you have received notice of a lien or levy, don’t panic, we can help. But don’t delay!
If you have received notice from the IRS threatening liens or levies, it is urgent that you respond immediately to keep these aggressive collection actions from devastating your credit, bank accounts, and income. Call US Tax Shield before the IRS files with your employer or bank and our expert tax specialists will deal with the IRS to negotiate a settlement, avoiding these damaging actions.
If the IRS has already filed a lien on your property, our experienced tax professionals will negotiate with the IRS on your behalf to work out a release of the lien. If your wages are currently being garnished, our attorneys will stop the wage garnishment by putting a hold status on the levy, and then negotiate with the IRS to determine the best settlement for your financial situation.
With professional representation, you may be able to release the federal tax lien or other levies. Depending on your situation, your tax professional will work to reverse these IRS actions so that you can address your tax debt problems.
You Have a Right to Tax Representation
If you have been contacted by the IRS or your state’s Department of Taxation, or have received tax liens, levies, or notices of IRS intention to do so, call 877-829-3535 today for your free 15 minute tax analysis and consultation.