IRS Liens & Levies in Teaneck, NJ
An IRS lien or levy is one of the most serious collection actions the government can take against a Teaneck taxpayer. A lien attaches to your property as a public claim for unpaid taxes; a levy is the actual seizure of property or funds — including bank accounts and wages. Both require an immediate, informed response. Tsamutalis & Company represents Teaneck individuals and businesses in lien and levy situations, working to protect assets and resolve the underlying tax obligation as efficiently as possible.
What Is an IRS Federal Tax Lien?
A federal tax lien arises automatically when a taxpayer fails to pay a tax debt after the IRS sends a bill and the taxpayer does not respond. The lien attaches to all property — real estate, personal property, and financial assets — and becomes public record through a Notice of Federal Tax Lien filing. For Teaneck business owners and property owners, an IRS lien can interfere with real estate transactions, business financing, and credit. Addressing the lien promptly — through payment, installment agreement, or other resolution — is critical.
What Is an IRS Levy?
A levy is the IRS’s actual seizure of property to satisfy an unpaid tax debt. Levies can take the form of wage garnishment (the IRS notifies your employer to send a portion of each paycheck to the IRS), bank account seizure (funds are frozen and sent to the IRS), or seizure of other property. The IRS is required to give advance notice before levying — meaning Teaneck taxpayers have a window to respond before the seizure occurs.
How Tsamutalis & Company Responds to Liens and Levies
When a Teaneck client comes to us facing a lien or levy, our first priority is stopping or preventing the seizure while a resolution is pursued. This typically involves contacting the IRS to establish communication, filing for a Collection Due Process hearing where applicable, and negotiating a resolution — installment agreement, offer in compromise, or currently not collectible status — that satisfies the IRS’s requirements and protects the client’s assets. When a lien stems from unfiled years, our non-filed returns and back taxes services address the root cause.
Lien Releases and Withdrawals
Once the underlying tax debt is resolved — through payment in full, an accepted installment agreement, or an offer in compromise — the IRS is required to release the federal tax lien within 30 days. In some cases, a lien withdrawal (which removes the public record entirely) is also available. Tsamutalis & Company pursues withdrawal for eligible Teaneck clients to fully restore their financial standing. Have questions about your situation? Contact our Bergen County CPA team to talk it through.
FAQs
Immediately. The IRS is required to provide advance notice before levying, and that notice period is your window to contact the IRS, establish communication, and potentially prevent the seizure. Tsamutalis & Company recommends calling us the day you receive a levy notice — delay makes the situation significantly harder to manage.
Disclaimer: This content is for informational purposes only and does not constitute tax or financial advice. Consult a qualified tax professional for guidance specific to your situation.