By Filing Federal Tax Liens, the IRS Can Make Your Life Miserable

TFederal Tax Liens are public records that indicate you owe the IRS various taxes. They are filed with the County Clerk in the county from which you or your business operates.

Because they are public records they will show up on your credit report. This often makes it difficult and sometimes even impossible for a taxpayer to obtain any financing, even for an automobile or a home.

In addition, Federal Tax Liens can tie up your personal property and real estate. Once a Federal Tax Lien is filed against your property, you cannot sell or transfer the property without having the lien removed so that you can transfer a clear title.

Often, taxpayers find themselves in a no-win situation where they have property against which they would like to borrow, however, due to the Federal Tax Lien, they cannot use it as collateral secure a loan.

IRS Levies Should be Avoided at All Costs

When the IRS levies a bank account, the bank is required to remove whatever amount is available in your account that day (up to the amount of the IRS levy) and send it to the IRS within 21 days, unless notified otherwise by the IRS.

This type of levy does not affect any future deposits made into your bank account, unless and until the IRS issues another Bank Account Levy

Bank Account Levies Can Empty Your Checking and Savings!

When the IRS levies a bank account, the bank is required to remove whatever amount is available in your account that day (up to the amount of the IRS levy) and send it to the IRS within 21 days, unless notified otherwise by the IRS.

This type of levy does not affect any future deposits made into your bank account, unless and until the IRS issues another Bank Account Levy.

Earnings Levies Can Take Away Most of Your Paycheck!

An IRS Wage Levy is quite different.

Wage levies are filed with your employer and remain in effect until the IRS notifies the employer that the wage levy has been released.

Most wage levies take so much money from the taxpayer's paycheck that the taxpayer doesn't have a sufficient amount of money on which to live.