IRS Tax Liens – What Are They?

by James Wade | Nov 1, 2022 | Income Taxes, IRS, IRS Tax Liens, Tax Controversies

IRS Tax Liens – What Are They? What is an IRS Tax Lien? In legal terms, an IRS tax lien is an “encumbrance”, meaning a claim, against your property. Think of it like a home mortgage or car loan. A tax lien is NOT an asset seizure! An IRS tax lien does not...

IRS Tax Levies – How to Prevent a Tax Levy

by James Wade | Oct 27, 2022 | Income Taxes, IRS, IRS Tax Levies, Tax Controversies

IRS Tax Levies – How to Prevent a Tax Levy In my last post, I talked about what to do if you find you have been levied. You can find that and prior posts on tax levies here, here, and here. In this post, I will discuss how to prevent a tax levy in the first...

IRS Tax Levies – How to Fix a Tax Levy

by James Wade | Oct 25, 2022 | Income Taxes, IRS, IRS Tax Levies, Tax Controversies

IRS Tax Levies – How to Fix a Tax Levy In my last post, I talked about what property the IRS tax levy can reach. You can find that and prior posts on tax levies here and here. In this post, I will discuss how to fix a levy if you are so unfortunate as to be...

IRS Tax Levies – What Can the IRS Seize?

by James Wade | Oct 20, 2022 | Income Taxes, IRS, IRS Tax Levies, Tax Controversies

IRS Tax Levies – What Can the IRS Seize? In my last post, I introduced some of the basic issues that arise when the IRS decides to take more aggressive collection action against taxpayers. You can find that post here. Here is the cliff notes version: IRS does...

IRS Tax Levies – What Are They?

by James Wade | Oct 18, 2022 | Income Taxes, IRS, IRS Tax Levies, Tax Controversies

IRS Tax Levies – What Are They? Tax Levies – What Are They and How Do They Compare to a Tax Lien An IRS tax levy is a legal seizure of your property by the IRS to pay down your tax debt. Do not confuse a tax levy with a tax lien. An IRS tax lien is a legal...

Innocent Spouse Relief – Five Traps to Avoid

by James Wade | Oct 13, 2022 | Divorce, Income Taxes, IRS, Tax Controversies

Innocent Spouse Relief – 5 Traps to Avoid Transfer of Assets The first and biggest trap in regards to innocent spouse relief is receiving assets from your spouse or former spouse. In some cases, you may either be denied relief or have the amount of relief...