Levy and Lien Releases

How do You Get Them Released?

LEVIES

A levy is a seizure of a person’s assets. What assets are subject to an IRS levy? Just about anything, such as your paycheck, bank account, certificate of deposit, IRA, social security, brokerage account, dividends, rental income, etc. In short, just about anything that smells like money.

If your paycheck is levied, the levy remains until the tax, interest and penalties are paid in full or some other agreement is reached, and the elusive Levy Release is received. As can be imagined, this is absolutely devastating to person relying on that paycheck to pay bills.

How are you supposed to live with 80-85% of your paycheck going to the government? It doesn’t seem that the IRS really cares. A levy is in place and the IRS wants its money. Whether you can pay your house payment, or for food and utilities doesn’t appear to matter. So, paychecks are levied, bank accounts are drained, and this continues until a Release of Levy is issued.

The IRS must follow specific rules before issuing a levy. Generally speaking, a levy will only issued after three things have happened.

1. The tax has been assessed and the IRS has sent a Notice and Demand for Payment.
2. The taxpayer has ignored the Notice or otherwise neglected or refused to pay the tax.
3. The IRS sends a Final Notice of Intent to Levy and Notice of Your Right to a Hearing. You have 30 days to request the hearing.

At Gerrard Cox Larsen, we understand how devastating a levy can be. And we have the knowledge to get a levy released. While the process is not simple, if you cannot pay your normal living expenses, such as house payment, rent, car payment, utilities, etc., by jumping through the right hoops, we can secure a Levy Release.

Getting a Bank Levy Release is more difficult. The IRS considers money you have sitting in the bank extra money that is not needed for ordinary and necessary expenses. Never mind that you just deposited your paycheck and need the money to pay for rent, utilities and groceries. Nor do they seem to care that your car is in the shop and you must pay $1,300 in repair bills in two days, or you will not get your only mode of transportation back.

Strangely, the IRS just sees money in the bank as unnecessary. While not in all cases, Bank Levy Releases are possible, but require hard work and persistence.

Our tax attorneys have a Levy Release program designed to take you through each step necessary to get the IRS wage levy release, and where possible the IRS bank levy release.

For a Free, No Obligation Consultation, contact us:

Please fill out our online form and find out what we can do to assist you.
Or call us at: 702.796.4000

LIENS

The IRS files a federal tax lien against your property for non-payment of assessed taxes. The lien is typically filed with the county clerk and is of public record. The IRS lien prevents the property from being sold until there is a Lien Release.

Once a tax lien exists, the IRS becomes a secured creditor and must give the taxpayer 30 days notice before seizing the asset. The tax lien also attaches to after acquired property, and remains in effect until the tax is paid in full or becomes uncollectible.

Lien Releases, under certain circumstances, are obtainable. Once received, the property will be free of the lien, and be able to be sold or refinanced. But, the IRS is reluctant to give Lien Releases. You must convince them that there is a pressing reason for the IRS Lien to be released.

For a Free, No Obligation Consultation, contact us:

Please fill out our online form and find out what we can do to assist you.
Or call us at: 702.796.4000

From our offices in Henderson and Las Vegas, Nevada, our tax attorneys will provide the highest quality legal services to clients with IRS problems.

Remember, in addition to Levy Releases and Lien Releases, there are other options to consider. Some of our other services include:

  • Levy Release
  • Installment Agreements
  • Innocent Spouse
  • Offers in Compromise
  • Appeals
  • Tax Court Representation
  • Penalty Relief

So, if you can imagine getting the IRS off your back . . . without having to speak directly with the IRS yourself, contact us now.