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WHAT YOU NEED TO KNOW ABOUT FEDERAL TAX LIENS AND LEVIES
For more on What you Need to Know About Federal Tax Liens and Levies, visit Freeman Law for our Insights and in-depth resources on the topic.   A. Introduction In order to protect the revenue, Congress has provided an administrative means of collection on IRS assessments by attaching a lien to the taxpayer’s property. To expand further, this lien (often referred to as the “general” or “statutory” lien) not only attaches to all of the taxpayer’s property, but to all of the taxpayer’s rights to property, whether real or personal, tangible or intangible, as of the date of the assessment, as well as to all future property and rights to property acquired by the taxpayer.
B. The IRS and its Collection Division1. What Must Happen Before the IRS Can Collect Taxes?
a. An assessment has to be made. See Section 6201 of the Internal Revenue Code.
b. The IRS must send the taxpayer a notice and demand for payment and give the taxpayer 30 days to pay.
c. If the taxpayer does not pay within the 30-day period, then the IRS may seize assets to pay the taxes.
Once an assessment is made, a lien arises pursuant to Section 6321. This is called a statutory lien. In order ... more

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