IRS Liens and Levies

The IRS can make your life miserable by filing federal tax liens. These tax liens are public records that you owe various taxes. They are filed with the County Clerk in the county from which you or your business operates. Many times, when you pay the tax after a lien is filed, the lien still appears on your credit reports as if it has not been paid. An IRS levy is the actual action taken by the IRS to collect taxes. It is a seizure. For example, the IRS can issue a bank levy to obtain your cash in savings and checking accounts. Or the IRS can levy your wages or accounts receivable. The person, company, or institution that is served the levy must comply with it or face their own IRS problems. As the person, company, or institution that is served the levy is faced with additional paperwork in order to comply with the levy, the taxpayer's relationship with this person, company, or institution often suffers. Levies should be avoided at all costs and are usually the result of poor or no communication with the IRS. The CPAs of Kenneth D. Eichner, P.C. can have the levy released by negotiating with the IRS. A levy should not be considered the only way to pay the IRS even after it has been issued.

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