The IRS places these on larger balances to protect the interests of the United States in the same way that a bank will record a lien on a vehicle loan to protect their interests. These are usually done automatically by ACS (Automated Collection Services), or by local Revenue Officers. They remain until the debt is paid in full or canceled by the expiration of the 10 year statue pf collections or a accepted Offer in Compromise. They are annoying, and will seriously hurt your credit. As a rule, if you set up an Installment Agreement with the IRS, an Lien is automatically recorded by the IRS. We have gotten Liens release, either fully or partially, but it’s not easy or usual! Avoid them if you can in advance!
These are placed upon wages or bank accounts or financial accounts by the IRS after they have properly warned you in writing. Generally, if you set up an approved Installment Agreement, the IRS will not Levy. Usually, it is one or the other (Installment Agreement or a Levy) unless you submit an Offer In Compromise, get placed into “Currently Not Collectible” status, or the IRS does not pursue collection activity for some reason. Levies are very difficult to get removed. Usually you will have to do financial Statements, show reasons of financial distress, or other lengthy discussions with the IRS. It can be done, however, and we do it regularly!
We have been very successful in removing liens and levies, such as a levy on your pay or bank accounts. It’s not easy, but it can be done. We find that if you are honest and cooperate with the IRS, they will usually work with you in return.
What people have said about us
Four years ago I was in arrears to the IRS. I did what many people do in the same situation, I ignored it. Then it happened. The IRS garnished my my bank accounts and an already stressful situation became worse. On the recommendation of a friend, I called Weeks Accounting and Tax Services. Within three weeks Weeks Accounting and Tax Services succeeded in having my funds returned and began the process of putting my financial life in order. Calling Weeks Accounting and Tax Services Weeks was the best decision I have made. I only wish I had done it sooner.