Liens and Levies
What does it mean?
Liens and levies are used by the IRS to collect unpaid tax debts and put pressure on the taxpayer to settle their debt. Both should be dealt with as soon as possible to avoid further complications down the road.
How Does it Work?
A tax lien is when the IRS files a public document notifying your creditors that they are placing a claim on your property. This means that when the property is sold, the proceeds go to pay your tax debt. Nothing happens to the property itself, but the IRS has staked its claim. This means you will need to get the lien removed in order to sell your property.
A tax levy is when the IRS actually takes the property. The most common form of a levy is a wage garnishment. However, the IRS can levy any type of property – a home, car, or anything else you own.
A lien usually comes before a levy. If you’ve been notified that the IRS is going to file a tax lien, you need to get help as soon as possible. With a levy, this is even more urgent!
Other Services
Cryptocurrency Audits
As cryptocurrency gains popularity, it's important to speak with professionals who can help you navigate the ins and outs of this fairly new digital currency. We can represent you throughout the entire cryptocurrency audit process.
IRS & State Audit Representation
Nobody likes being audited! Unfortunately, it’s something you have to deal with if you’ve been selected for an audit, as ignoring it only makes it worse. IRS audits are the process of reviewing your accounts and finances to ensure you reported everything correctly. If this is happening to you, seek help right away!
IRS Payment Plans
An IRS payment plan, also known as an installment agreement, allows you to pay back your tax debt in a more manageable way. It’s also the most common way for taxpayers to pay their outstanding tax liability. You can negotiate a monthly payment that fits your needs instead of paying back a hefty lump sum.