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Is It Possible To Remove A Tax Lien From Your Property or A Wage Garnishment or Bank Levy Too?

Posted on 27, Jan, 2014

If you've arrived at that point in your life where liens, levies and garnishments have become part of your everyday language you're probably feeling pretty fed up by now. After all you know you're working the same amount of hours in the same job(s) you've always worked in, but now you're going to be doing it for far less money.

The same principle applies to having a lien on your home because you know that you don't truly own your home anymore, and you also can't sell it without having cleared the lien in the first place.

We're going to look at dealing with bank levies and wage garnishments first because they're closely related to each other. When it comes down to it a bank levy or wage garnishment are referred to as "enforced collections", and would never be necessary if you were paying attention to your finances in the first place. That's not to say that you should feel guilty about this, but you do realize that the writing was on the wall long before your wages started disappearing down some rabbit hole, right?

Basically with a wage garnishment or bank levy the IRS sends a notice to your bank or employer informing them that a certain amount of money is to be taken from your wages or bank account each month until the debt is paid. With a bank levy the IRS can literally empty your bank account of funds, whereas with a wage garnishment a percentage of your salary is deducted from each paycheck to pay off your tax or court debts.

A tax lien on the other hand is a when the IRS either uses your home to secure a debt you owe to them or issues a lien with the municipality where you reside - usually for taxes you haven't paid. When a lien is in place on your property you won't be able to sell it, and even if you did nobody wants to purchase a property with a lien on it. A lien devalues the property immensely and discourages 99.9% of potential buyers almost immediately.

So the big question here is can you remove or dismiss a tax liens, wage garnishment or bank levy?

The answer to all of the above is "Yes" and you're probably going to kick yourself when you find out how you go about doing this. In fact we're going to give you 30-seconds or so to figure out how you might stop the IRS from taking money from your bank account/wages or using your property as a security against your debt.

Run out of ideas?

Well we're going to make it really easy for you because here's the answer: Negotiate and pay your debts.

Yes, it really is that simple. All creditors (including the IRS) are more than happy to set up some form of payment plan with you, allowing you to pay off your tax or other debts in a more affordable manner. Liens, garnishments and bank levies are only ever put in place when you've ignored multiple notifications and warnings to the effect that you've been delinquent in your payment of your taxes or other debts for quite some time.

With the help of a tax attorney, CPA, or other tax professional you can establish a repayment plan with the IRS which can prevent wage garnishments and bank levies, while also allowing you to remove the lien from your municipality or on your property as quickly as possible. 

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