What to do when the IRS filed a tax lien. Get a free consultation from an Experienced and Licensed Tax Debt Relief Professional
The IRS filed a tax lien. Now what, and what is it? A federal tax lien serves as the government’s legal claim against your property and assets when you fail to pay your tax debt. The tax lien secures the governments interests in your assets and is reported on your credit report. A federal tax lien is filed when the IRS:
Assesses your tax liability (puts it on the books), sends you a Notice and Demand for Payment and you neglect or refuse to fully pay the debt in time. After the IRS filed a tax lien, there may several options to remove it to allow for the sale of an asset, refinancing and other relevant events. It can be prevented or removed in some cases without any other need for it as well, as long as you qualify. Contact us today to find out your options.
So what does a tax lien do?
Here are some ways a tax lien may affect you:
- Assets — A lien attaches to all of your assets (such as property, securities, vehicles) and to future assets acquired during the while the lien is in place.
- Credit — Once the IRS files a Notice of Federal Tax Lien, it may limit your ability to get credit.
- Business — The lien attaches to all business property and to all rights to business property, including accounts receivable.
- Bankruptcy — If you file for bankruptcy, your tax debt, lien, and Notice of Federal Tax Lien may continue after the bankruptcy even if the bankruptcy is approved. In some circumstances, this may not be the case. Working with an experienced bankruptcy attorney and tax relief expert will ensure no savings are missed.
We are experts in resolving federal tax lien issues. If the IRS filed a tax lien, it’s in your best interest to get this handled sooner than later. Chances are, not only did you receive this lien notice, but now you’re getting what seems like 100’s of phone calls. Your tax lien information becomes public record and is accessible by anyone, including scam artists. Work with someone you can trust.
Please reach out to us to find out how we can help you to remove your Federal Tax Lien and resolve your IRS tax problems for good. Complete the form below for your 100% Free Consultation to get answers on putting this problem behind you.