What does it mean to pay levy?

A garnishment is a legal seizure of your property to satisfy a tax debt. A lien is a legal claim against property to ensure payment of the tax debt, while a lien actually takes the property to satisfy the tax debt. An IRS lien allows for the legal seizure of your property to satisfy a tax debt. You can garnish salaries, deposit money in your bank or other financial account, seize and sell your vehicle (s), real estate and other personal property.

A tax levy is the seizure of assets to pay taxes due. Taxes can include penalties such as garnishing wages or seizing assets and bank accounts. Taxes usually appear after the government has placed a tax levy. If they don't get the answer they want or don't reach a payment agreement with you, they can proceed to garnish your salary or impose a lien on your property.

However, nothing is as personally devastating as an IRS tax. A garnishment means that the IRS can legally seize any or all of the assets or assets you own and sell them at auction to pay your taxes. A garnishment is a collection action imposed by the IRS. When the IRS charges you, the IRS seizes (keeps) your income or assets to pay a tax debt.

Brock Cottew
Brock Cottew

Infuriatingly humble web expert. Typical pizza fanatic. Lifelong food lover. Amateur bacon fan. Wannabe internetaholic.