Summary of Video
An IRS Levy vs an IRS Lien
Many taxpayers don’t know the difference between an IRS Levy and an IRS Lien. The purpose of this video is to clear that misunderstanding up.
Hi, I’m Dave Horwedel, CEO of Torchlight Tax. An IRS tax lien is a legal claim against your property. It’s the government’s way of saying, “You owe us, and we have first rights to your assets if you sell them.” A lien doesn’t take your property—it just clouds the title and alerts the world that you have a tax debt. An IRS tax levy is different—and much more serious. A levy is when the IRS actually takes your property. They can seize your bank account, garnish your wages, or even take physical assets like your car or home. In simple terms: A lien protects the IRS’s interest but leaves your property in your hands. A levy takes your property away to pay the tax debt. Now, both a lien or a levy are an indicator that you have a serious tax situation that has been building up for a while.
So, if you have an IRS levy, lien, debt, other situation, or simply want to save money on your taxes, contact Torchlight Tax for a free consultation at 877-758-7797 or info@torchlighttax.com. We will do the best we can to help you.
