Liens & Levies

Don’t Let Tax Liens and Levies Disrupt Your Financial Future

Liens and Levies for Debt

If you or your business owe taxes to the Internal Revenue Service or to an Illinois tax collector, you could be subject to disruptive tax liens and levies that can tie up your personal property, empty your bank accounts, and take the bulk of your paycheck or accounts receivables. These aggressive collection tactics are usually the result of little or no communication between the taxpayer and the collecting agency. Don’t let this costly mistake happen to you.

Get the legal counsel you need today. An experienced tax attorney at Thomas W. Lynch & Associates, P.C. can help you avoid the burden of a tax lien or tax levy. Call (708) 598-5999 now to schedule a free, confidential consultation, or complete our Online Contact Form to submit your questions about the services we offer.

IRS Tax Levies

If you have received an IRS levy notice, you have cause for concern. If you ignore this important notice, the law gives the IRS the right to seize (by any means) your personal property and use it to satisfy your tax debt. Some of the levies the IRS can issue against you include:

  • Wage levy—filed directly with your employer, wage levies can take a large percentage of your paycheck, leaving you with little for living expenses.
  • Bank account levy—banks are required under most circumstances to send the IRS whatever amount is available in your accounts to satisfy your tax burden. If that amounts to all of your money, then the IRS will take it without regard for the expenses you need to pay. This levy also applies to any stock or bond accounts you may have.
  • Accounts Receivables—if your business owes taxes, the IRS can levy your accounts receivables to cover your business’ unpaid taxes.
  • Personal Property Levy—any real property you own, often including your primary residence, may be seized.

IRS Tax Liens

Tax liens are another burdensome collection tactic the IRS uses to collect unpaid taxes. If you receive a CP-501 notice (a demand to pay) from the IRS and fail to pay the taxes you owe within 30 days, the IRS can put a lien on any real estate you own.

A federal tax lien is public record and will usually appear on your credit report, making it difficult for you to obtain new credit. The lien also prevents you from selling or transferring any real estate you own until you resolve your unpaid tax issues with the IRS.

Fortunately, the IRS and most other government agencies must comply with specific procedures before they can issue a tax lien or levy. There are also procedures in place that allow levies and liens to be lifted, removed, or handled in ways that limit the hardship created. Contact Thomas W. Lynch & Associates, P.C. to learn whether and how these procedures can be used to help you.

Learn about the options you have for avoiding a tax lien or levy. Call (708) 598-5999 today and speak with an experienced tax attorney at Thomas W. Lynch & Associates, P.C. You can also use our Online Contact Form to tell us about your situation.

You Deserve Experienced Tax Representation

The tax attorneys at Thomas W. Lynch & Associates, P.C. are experienced in dealing with liens and levies. Our firm offers representation by former IRS and state enforcement personnel who know tax law well from the “other side’s” perspective. Our team approach includes accountants who are very familiar with tax law. The team of professionals assigned to your case will work hard to achieve the best outcome for you.

Our office is conveniently located in Chicago’s southwest suburbs close to expressway exits. In addition, we offer:

  • Free Confidential, In-Person Consultation
  • Reasonable Rates
  • Convenient Evening and Weekend Hours

Let Thomas W. Lynch & Associates, P.C. handle your tax problem. Call (708) 598-5999, or use our online contact form to make an appointment as soon as you are contacted by the IRS.

Do not wait. Arrange for a Free Consultation Today.

Work with the experienced tax professionals at Thomas W. Lynch & Associates, P.C. We serve Chicago and Southwest Chicagoland Suburbs:

  • Alsip, IL
  • Bridgeview, IL
  • Burbank, IL
  • Evergreen Park, IL
  • Hickory Hills, IL
  • Oak Lawn, IL
  • Orland Park, IL
  • Palos Hills, IL
  • Palos Park, IL
  • Tinley Park, IL
  • Worth, IL