Gavel and Money

Bank Levies, Wage Garnishments, Liens: Removal & Steps to Avoid

It is a fact that the Internal Revenue Service (IRS) can go as long as ten (10) years to collect back taxes. The Law Offices of Ryan McFarland is doing its part to orient you on the value of taxes. Not only do the citizens have to pay them but the demands can become more overwhelming to banks, financial institutions and corporations. Because we deal with commercial (business) and individual (personal) taxation advice and provisions, allow us to draw from our knowledge to help you better.

Attorneys for IRS problems

Bank Levies. Talking about levies means that you are talking about an organization. A creditor uses the mode of freezing the debtor’s account to make sure that the debt is paid. Applying this to corporations and especially banks, the act of a bank levy is indicative of punishment for possible risky or lack of discipline by its members.
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A bank levy is a preventive measure that ensures that managers and employees are regularized with their fees and pay their taxes and respective debts on time. On a business account, this could be urgent. Using our services at The Law Offices at Ryan McFarland, we make sure that it does not lead to a court order that will make you pay your taxes. In this case, consider the options of preventing a bank levy before it grows into an unbelievable proportion.

IRS & State Collection

Remember that a bank levy is a strategy used to make you and your organization pay. So first thing to do is to see if you can pay—and if you can then pay as soon as possible. However, if that solution is not an option for the time being, there is no harm in trying to dispute or allude to the differences that your company and the creditor have when it comes to debt. Not acting upon a levy can lead to a surprise emptying of your account. With our representation, we can commit to clients’ requests for laying down the rightful approaches to your claim:
In order to make matters more urgent, creditors will fail to notify debtors of their pending pay. Before thinking that this is bad faith, this is done only because they have exhausted all the ways in contacting you or making you pay. Nevertheless, this can also be a credible way to prevent or limit the amount levies in your account.
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Other preventions to cite are creditor error, old debt that has passed, bankruptcy or you can try negotiating your way unto a deal that could say you money and your company’s reputation.

Wage Garnishments. Going hand-in-hand with a bank levy can be a wage garnishment. While this can happen in lieu of a frozen account or failure to pay fees and/or taxes, all the same—there is a withholding of pay as a result of a legal action such as a court order. It is assumed that an individual’s attention has been called because of this. The most common cause of non-payment is due to avoidance of financial responsibility such as child support.

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Liens: Removal & Steps to Avoid. A type of material loan that signifies the property used by someone who isn’t its original owner and can demand it as a form of compensation if a debt is not paid. Liens are a generally placed value on an object which is considered an asset.

There are several types of lien that one has to familiarize itself with, and these are the consensual liens—a general term that is used on someone who has put a claim on unpaid bills and in turn has put this claim through a court places. Under this common type are the judgment, tax and constructor liens that put a compensation value on their properties.

There is one way to stop a lien, and that is through a written and signed document that states that the lien has been removed. Attached to it is a proof of payment (e.g., receipt). This is called a release of lien.

Other services here at The Law Offices of Ryan McFarland include Tax Preparation, (Personal and Business), Appeals, Sales Tax, Payroll Tax Issues, Tax Fund Penalties, Audit Review and Recommendation, Innocent Spouse Relief, Identity Theft Issues and Bankruptcy Consultations.

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