Episode 5

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Published on:

23rd Aug 2021

Talkin' Tax - Lien Vs. Levy

In the latest installment of Talkin' Tax, the Brysons address a popular topic and provide valuable insights into some of the IRS' most common tactics.

What really is the difference between a lien and levy and how do these impact me?

This is the question asked frequently at their offices and it's important to understand the fundamental differences between the two. Regardless of which you receive, timely action is the most important part!

So sit back, relax, and enjoy another enlightening episode full of beneficial information that can help if you find yourself receiving a lien or levy from the IRS.

Timecodes:

0:24 - Overview on the topic of the day

2:20 - What is the difference between a lien and a levy?

10:30 - How the liens can impact your assets

14:50 - How the Brysons handle liens with their clients

17:48 - How a levy is handed down by the IRS

22:42 - The element of 'good faith' when addressing issues with the IRS

27:13 - An example of going through the levy process with a client

34:40 - Liens and levys can become messy if you don't tend to them quickly

36:47 - Closing remarks


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About the Podcast

Talkin' Tax
Serious tax talk with a Louisiana twist
Cary and Angela Bryson are lifelong residents of Louisiana. Their roots give them deep insight into the needs of our fellow “Loosianans.”

With over 38 years of combined legal experience, you can rest assured that they know Louisiana tax laws and IRS tax laws. The Brysons are committed to representing clients from all walks of life to find the best solution to their tax problems.

Each episode, Cary and Angie dive into tax-related subjects facing their great state and providing the guidance and solutions you need.