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IRS Levies Vs. Liens: What’s The Difference And Why It Matters
Episode Summary
In this episode of Resilience and Resolve, tax attorney Lance Drury breaks down one of the most common areas of confusion among taxpayers—understanding the difference between an IRS lien and an IRS levy. While these two terms are often used interchangeably, they carry very different legal and financial consequences.
Attorney Drury explains how liens affect property and credit, how levies lead to actual seizure of income and assets, and what steps individuals can take to fight back. He highlights critical safeguards, the importance of timely response to IRS notices, and strategies for negotiating with the IRS to protect wages, bank accounts, and property.
If you’ve ever wondered what the IRS can and cannot take—or how to stop a levy before it drains your bank account—this episode offers clear, practical insights.
Key Timestamps
00:56 – Breaking news: Lance Drury expands his practice with a new San Antonio office
02:10 – IRS lien explained: what it is, where it’s filed, and how it impacts property sales
03:25 – IRS levy explained: how bank accounts, wages, and Social Security can be seized
05:15 – How IRS resource shortages have led to lien release delays
07:00 – Why levies are more aggressive and how they impact daily life
09:10 – Warning letters and IRS notice requirements before a levy is enforced
10:45 – Options for removing or reducing the impact of a lien
11:55 – Steps to take if already hit with an IRS levy
12:50 – Why it’s critical to act quickly and how legal representation can help
About the Show
Resilience and Resolve is a podcast dedicated to guiding taxpayers through complex IRS challenges with clarity and confidence. Featuring tax attorney Lance Drury, the show offers practical insights to manage tax debt, navigate relief options, and develop effective long-term strategies to achieve financial stability.
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By resilienceandresolveEpisode Summary
In this episode of Resilience and Resolve, tax attorney Lance Drury breaks down one of the most common areas of confusion among taxpayers—understanding the difference between an IRS lien and an IRS levy. While these two terms are often used interchangeably, they carry very different legal and financial consequences.
Attorney Drury explains how liens affect property and credit, how levies lead to actual seizure of income and assets, and what steps individuals can take to fight back. He highlights critical safeguards, the importance of timely response to IRS notices, and strategies for negotiating with the IRS to protect wages, bank accounts, and property.
If you’ve ever wondered what the IRS can and cannot take—or how to stop a levy before it drains your bank account—this episode offers clear, practical insights.
Key Timestamps
00:56 – Breaking news: Lance Drury expands his practice with a new San Antonio office
02:10 – IRS lien explained: what it is, where it’s filed, and how it impacts property sales
03:25 – IRS levy explained: how bank accounts, wages, and Social Security can be seized
05:15 – How IRS resource shortages have led to lien release delays
07:00 – Why levies are more aggressive and how they impact daily life
09:10 – Warning letters and IRS notice requirements before a levy is enforced
10:45 – Options for removing or reducing the impact of a lien
11:55 – Steps to take if already hit with an IRS levy
12:50 – Why it’s critical to act quickly and how legal representation can help
About the Show
Resilience and Resolve is a podcast dedicated to guiding taxpayers through complex IRS challenges with clarity and confidence. Featuring tax attorney Lance Drury, the show offers practical insights to manage tax debt, navigate relief options, and develop effective long-term strategies to achieve financial stability.