Enrolled Agent Exam [Part 3] 60, Assessment Lien Levy and Collection Sequence

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- The IRS collection process begins with an assessment, followed by a Notice and Demand for Payment, which is a prerequisite for liens and levies.

- A statutory "secret" lien arises automatically after non-payment, while a Notice of Federal Tax Lien (NFTL) is filed to make the lien public and secure priority against other creditors.

- A levy is the actual seizure of assets and requires a "Final Notice of Intent to Levy" sent at least 30 days prior, triggering Collection Due Process (CDP) hearing rights.

- The Collection Statute Expiration Date (CSED) is a 10-year clock that starts at assessment but can be suspended by events like an Offer in Compromise or bankruptcy.

- Differentiating between a lien release (debt satisfied) and an NFTL withdrawal (procedural correction) is a critical distinction tested on the exam.

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