Orlando Liens & Levies Cases

The Difference Between a Lien and a Levy

If you fail to pay your taxes, the IRS may resort to liens or levies to collect the amount due. A lien is a claim registered against your property but it does not take the property from you, nor your right to sell or transfer ownership of the property. It is a public notice that the IRS claims you owe them money and they thus have a claim against your property. A levy occurs after a lien if you remain out of compliance with tax obligations and is an actual seizure of your property, in which ownership is transferred to the government.

If you receive a notice of intent to issue a lien against your property, it is vital you contact an Orlando IRS tax relief lawyer immediately. It is much simpler and less disruptive to your financial health to prevent a lien from occurring than to try to remove one that is already in effect. If a lien is placed on your property, it will usually be recorded with the major credit reporting agencies. Additionally, if you sell property that has a lien against it, the IRS will deduct the amount it claims is owed to them before you receive any payment from the sale.

IRS Tax Relief Attorney in Orlando

An IRS levy can be issued against almost any of your assets, your cash, or your possessions which can be resold to satisfy your tax debt. It is therefore imperative that you talk to Attorney Brian Loughrin about the best approach to your case if you have unpaid taxes which the IRS has been endeavoring to collect. You may otherwise find yourself facing property seizure, a frozen bank account or wage garnishment and be unable to recover your property.

If you have an outstanding tax debt, contact an Orlando IRS tax relief lawyer for help avoiding liens and levies.