Are you concerned about the government seizing your home, vehicle, bank account, or other assets to cover a large outstanding tax debt? This tax penalty is the IRS’s final resort when you’ve failed to pay what you owe in a timely fashion. Because seizing your property is a late-stage measure, it probably won’t come as a surprise to you. You may have been dealing with tax penalties and wage garnishment for years, and you’ll definitely have received many notices from the IRS requesting payment of your debt. The tax authorities will issue a tax lien or levy only when they’ve exhausted other attempts to secure what you owe.
What’s the difference between a tax lien and a tax levy? A lien represents a claim on your assets, whereas a levy means actual seizure is imminent. In short, when you receive notice of a lien you have more time to come up with a plan of action to avoid losing your house, car, or other assets. You’ll need a skilled tax resolution specialist on your side regardless of the time frame. In and around Memphis, Pro Tax Resolution is your best choice for resolving serious tax penalties. We’re knowledgeable and highly trained, and we put quality workmanship first. Plus, because we offer emergency tax resolution services, you can expect us to be there when you need us—even when time is especially tight.
Get in touch today to book your initial consultation!