IRS Tax Settlement is dedicated to providing advice and answers to all of your tax questions. We are committed to working with you to resolve your tax debt issues quickly so that you can go back to living your life! If you owe the IRS, they can legally get their money is through use of such actions as a Tax Lien or a Tax Levy. We have years of experience in resolving both of these situations and are more than capable of answering any tax questions you have about them. The difference between a Tax Lien and a Tax Levy is outlined for you below.
What is the Difference Between a Tax Lien and a Tax Levy?
A Tax Lien is a public record that states you owe federal or state taxes. Nothing is physically seized, but this public record can devastate your credit report, making it virtually impossible to live a normal life. We at IRS Tax Settlement will answer your Tax Questions about your IRS Tax Lien and advise how you can get rid of your Tax Lien for good.
A Tax Levy is an actual physical seizure of your assets to satisfy what you owe the IRS. It can be placed on your wages, bank account, etc. An IRS Tax Levy will remain in place until the IRS recovers your complete IRS debt, including any applicable penalties and interest.
The Two Main Types of Tax Levy
Wage Garnishment — Paydays hurt when the IRS places a Tax Levy on your wages. Also known as a "Wage Levy," this type of Tax Levy seizes your pay before your paycheck is even handed to you. The IRS usually levies between 50 to 75% of your total wages. Enough is left to you to cover your most basic necessities, such as rent, groceries, and bills. IRS Tax Settlement knows the techniques for preventing and stopping Wage Levies. Call us today at if you have Tax Questions about this particular type of Tax Levy.
IRS Bank Levy — This type of Tax Levy can strike without warning, seizing all of your funds. Once notified by the IRS, your bank will freeze your account and forward all funds to them. Act fast, and IRS Tax Settlement will save your money!
Other Tax Questions We Can Answer
Do you have tax questions about Payroll Tax? For this serious problem, the experts at IRS Tax Settlement experts will evaluate your issue and give you a custom tailored resolution plan.
Do you have tax questions about Delinquent Tax Returns? IRS Tax Settlement's Tax Preparation Professionals will do the dirty work and complete your Delinquent Tax Returns so that you don't have to.
To answer your tax questions and lift any IRS Tax Lien or Tax Levy that has been placed against you, we will choose the Tax Debt Solution that's right for you, including:
- Offer in Compromise
- Penalty Abatement
- Currently Not Collectible
- Installment Agreement
- And More!