When you owe a debt to the IRS, they will do their best to collect. One of their tried-and-true methods is to issue a levy or lien on your
If the IRS has issued a levy, you need the immediate assistance of a tax attorney.
As your counsel, Scott Scammahorn will work to reduce your debt, attempt to lift levies or liens, and otherwise protect your assets.
Contact our offices today to schedule your initial consultation to learn how we can help.
Levies and liens are sometimes used interchangeably, but they aren’t the same thing. They are different.
When the IRS issues a lien, they’re essentially saying that they have a “right” to your property, money, or wages. It doesn’t necessarily mean that they’re going to act on that right.
When the IRS issues a levy, they are telling you that they are going to act on that lien and start collecting on a debt.
Both can be devastating to your personal or business finances, and Scott Scammahorn can help you manage them.
When the IRS moves to collect a debt, they have a number of ways to do it. These are some of the most common.
The IRS can and will garnish your wages to collect your debt. After deductions, they’re able to take 25-50% of your disposable earnings.
If you have money in a bank account or retirement fund, the IRS can seize that money to satisfy your debt.
If the IRS issues a levy on your real estate, you may wind up in foreclosure while they attempt to sell the building and land to pay your debt.
The IRS is able to seize cars, boats, heavy equipment, and other valuable property from you or your business.
With an experienced and dedicated tax attorney by your side, you have options. Scott will pursue every avenue to relieve you from an IRS levy or lien.
When the IRS offers an OIC, they agree to take less than the amount you or your business owers. Scott always pursues an OIC initially.
It’s possible that the IRS determines you are unable to satisfy your debt, even with levies on your wages and property. They label instances “CNC.”
If you fail to file your taxes, the IRS does it for you. This can lead to more debt than you actually owe, and Scott will sit down and work to correct those.
If Scott can convince the IRS to lift your levy, he will do that. It may not relieve you of the debt, but it can give you some breathing room.
An installment agreement will let you pay your debt over time. It’s a good way to work on your debt and lift and levies against you.
If you owe back taxes, you will likely also face penalties. Scott will work to get those reduced so you face less of a burden.
Scott has helped individuals and businesses get out from underneath tax debt his entire career. He’s committed to pursuing the best result possible in any situation.
His results include
Scott Scammahorn accepts clients across the nation. Schedule a consultation at one of our Texas offices or online.
If you’re facing IRS liens and levies, we can help.
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