Glossary

A statute of limitations on liens refers to the legal time limit within which a lien, especially a tax lien, can be enforced. This time limit is crucial for both the government and taxpayers to understand.

A bank levy lien is a legal action by the IRS (or a state tax agency) to seize funds directly from your bank account to cover unpaid tax debts. It's a serious matter that can disrupt your finances.

A wage garnishment lien is a legal order that requires your employer to withhold a portion of your paycheck to pay off a debt. It's usually a result of unpaid taxes or other debts.

A business tax lien is a legal claim against your business’s assets for unpaid taxes. It can severely impact your business, so it's important to understand it.

A real estate tax lien is a legal claim against your property for unpaid taxes. It can significantly impact your ownership rights, so it's essential to understand.

A default judgment lien is a legal claim against your property arising from a court judgment you didn't respond to. It can significantly affect your financial well-being and credit.

A Revenue Officer is an IRS employee who handles more complex tax issues, often involving tax debt collection. Understanding their role can help you respond effectively if you're contacted by one.

A public record lien is a legal claim against your property, usually due to unpaid debt. This can affect your ability to sell, refinance, or transfer property ownership.

Priority of claims refers to the order in which debts, including taxes, are paid when someone has multiple financial obligations and limited assets. Understanding this order is crucial in situations like bankruptcy or asset liquidation.

Tax lien removal is the process of releasing a legal claim the government places on your property due to unpaid taxes. Removing a tax lien can improve your financial standing and clear your property title.