A wage levy is used to seize your wages, commissions, or other income (often called a garnishment). The Internal Revenue Service can even garnish your Social Security income! You have only 30 days from the date of a Final Notice of Intent to Levy to either pay the tax in full or to find a solution to your back taxes.
A Federal Tax Lien or State Tax Lien gives the Internal Revenue Service, California Franchise Tax Board, or your State Department of Taxation a legal claim to your property as security or payment for your tax debt.
If taxpayers are looking to refinance or sell a home and there is a federal tax lien filed, there are options. The Tax Attorney at Direct Tax Relief will negotiate with the Internal Revenue Service to make a tax lien secondary to the lien by the lending institution that is refinancing or restructuring a loan.
The Internal Revenue Service has 10 years to collect outstanding tax liabilities, from the date assessed. The 10-year mark is calculated from the day a tax liability has been finalized. A tax liability can be finalized in a number of ways. It could be a balance due on a tax return, an assessment from an audit, or a proposed assessment that has become final.
