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How is an IRS Tax Levy Different Than a Tax Lien

In most instances the IRS is legally able to seize property to satisfy a taxpayers tax debt. In the United States, the IRS has the ability and the authority to levy a person's property.

This can include anything from a house to a boat or car as well as many other different types of property. In addition, there are circumstances where the IRS is able to take property belonging to an individual that may be held by someone else.

A legal seizure of property can continue and is usually not removed until a tax debt is paid in full.

Atlanta IRS Tax Help

It should be noted that a tax levy is entirely different from a lien because a levy simply takes property as a way to satisfy a tax bill.

For example, anytime a creditor implements a levy against an individual, it means the creditor is in essence able to freeze a financial account and take money out of that account as a way to cover a debt.

Conversely, a lien is simply a claim used as a way to secure an asset for a tax related debt. Working with an Atlanta tax lawyer is the best way to handle the complexities of tax levies and liens.

IRS Tax Help In Atlanta

In addition, garnishment of wages by the IRS can be implemented by the agency where in essence the IRS demands that an employer allocate a portion of wages to pay a tax bill.

That money is sent directly to the IRS until a tax debt is paid in full. Further, some taxpayers may receive something known as a levy release, which does not automatically indicate that a taxpayer is exempt from paying the balance of the tax debt.

Having your Atlanta IRS tax lawyer contact the IRS on your behalf is typically the most effective way to handle any type of tax levy or lien.

The good news is that the IRS is often good at working with taxpayers to establish some type of tax payment plan as a way to pay off a tax debt.

How Much Money Can Be Taken From A Taxpayer's Paycheck

The good news is that there are federal laws that limit how much money can be taken from a taxpayer's paycheck on a monthly basis.

In most instances the amount is limited to about 25% of the disposable earnings of the taxpayer. As a side note, the IRS typically cannot seize the home of a taxpayer.

That said there are cases where a house can be seized. This is yet another situation where it is highly recommended to consult with your Atlanta tax attorney as a way to protect your income and your assets.

Contact The Gartzman Law Firm, P.C. an Atlanta Georgia tax expert for assistance, guidance and professional help with a wide range of Atlanta tax problems.

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