The difference in a Federal Tax Lien and Levy is tremendous. When you file your unpaid tax return, the Internal Revenue service sends you a Notice and Demand for payment of the delinquent tax liability. If you fail to pay the bill within 10 days the Internal Revenue Service has a lien against all of your assets. The only ones who know about the lien are you and the Internal Revenue Service Computer. When they file a Notice of Federal Tax Lien at the local courthouse, the whole world can find out about the tax lien. This is when the Credit Bureaus find out about the tax lien and place it in your credit file. Even when the lien is released, the negative record stays with the Credit Bureau. When we represent clients in front of the Internal Revenue Service, we try to keep the Notice of Federal Tax Lien from being filed, thus protecting your credit.
A Levy, either a wage levy or a bank levy, acts like a garnishment. The Internal Revenue Service uses the Levy as a way to get your attention. The wage levy takes a large part of your take home pay from work. The bank levy takes ALL of the money from your bank account, even if you have checks outstanding that haven’t cleared. The bank levy is held for 21 days from date of receipt, but the money in your account is frozen. Tax Defenders, LLC will diligently work to get an immediate levy release. Be leery of claims that someone can guarantee a release. That act is impossible to guarantee. With 20+ years of Internal Revenue Service collection experience, I have released hundreds of levies, and there have been times they weren’t released.
Call Tax Defenders, LLC at 816-373-0700 or complete our simple information request form and let Tax Defenders, LLC go to work for you.