IRS Resumes Collection Activities
2020 – 07/16 The July 15 tax filing deadline is in the rearview mirror and many IRS actions that were postponed due to the COVID-19 virus will now resume. Among them are collection activities, including the filing of liens and levies. A tax lien is an encumbrance on property to secure payment of tax, generally preceded by a Notice of Federal Tax Lien (NFTL). A levy is the legal seizure of property to satisfy the debt (if payment isn’t made within 10 days of proper notice and demand). The IRS has announced it will now resume standard procedures for filing NFTLs. For more information, here’s a link to IRS questions and answers: https://bit.ly/2DLIEod.