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Talkin' Tax - Lien Vs. Levy
Episode 523rd August 2021 • Talkin' Tax • Cary and Angie Bryson
00:00:00 00:37:56

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In the latest installment of Talkin' Tax, the Brysons address a popular topic and provide valuable insights into some of the IRS' most common tactics.

What really is the difference between a lien and levy and how do these impact me?

This is the question asked frequently at their offices and it's important to understand the fundamental differences between the two. Regardless of which you receive, timely action is the most important part!

So sit back, relax, and enjoy another enlightening episode full of beneficial information that can help if you find yourself receiving a lien or levy from the IRS.


0:24 - Overview on the topic of the day

2:20 - What is the difference between a lien and a levy?

10:30 - How the liens can impact your assets

14:50 - How the Brysons handle liens with their clients

17:48 - How a levy is handed down by the IRS

22:42 - The element of 'good faith' when addressing issues with the IRS

27:13 - An example of going through the levy process with a client

34:40 - Liens and levys can become messy if you don't tend to them quickly

36:47 - Closing remarks

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