Recent Posts:

---

Notice of Federal Tax Lien

---

IRS Tax Installment Agreement Payment Plans

---

IRS Penalty Abatement

---

Offer in Compromise

---

Back Taxes Need Filing

---

Tax Problems and our Solutions

---

2015 Arizona Tax Credits

---

---

View AllSubscribe

Notice of Federal Tax Lien

When the IRS puts a lien on your assets, it is the equivalent of a public statement that you owe money to the United States government. The IRS may institute liens on your property once they have done the following: determined that you owe unpaid taxes, notified you, and failed to receive payment from you. After these three events have taken place, you’ll receive a notice in the mail informing you that the IRS has put a lien on your property.

IRS liens cover a wide variety of property including your home, car, money in the bank, and other property you own or have the right to, such as your retirement or 401K. Because IRS liens cover so many things, they can be scary. If you don’t protect your assets, the IRS may take them from you or place a Federal Tax Lien against them. If you’ve never dealt with a lien before, the first thing you’ll need is a clear and concise explanation of your options. Contact us for help!

The IRS uses tax liens to get you to pay your tax debt, and they will file a Notice of Federal Tax Lien with the County Clerk in your area. This lien is a public notice that you owe taxes to the IRS, and additionally, the Notice reads, “There is a lien in favor of the United States on all property and rights to property belonging to this taxpayer for the amount of these taxes, and additional penalties, interest and costs that may accrue”. The filing of the Notice can give you a major financial headache and can cause problems such as making it difficult to obtain credit. Imagine the shock of opening the mail and finding a notice of Federal IRS Tax Lien, or attempting to sell your home and finding out just before you close escrow, that you have a tax lien that needs resolving. If you have a business loan, the filing of a Federal Tax Lien will almost always violate covenants in your loan agreements – the bank loan is now callable…..this is really scary!

If you don’t take care of a Federal Tax Lien by paying the IRS what you owe in back taxes or settle your liability through an “Offer in Compromise”, you will have no success in getting a release of this lien. If you need assistance subordinating the tax lien for the sale of your property, we can also assist with this service.

IRS tax liens generally last until you have paid the IRS the money you owe them. Tax liens can only last for a certain period of time, called a statute of limitations. IRS tax liens can also affect your ability to give your property away, even if you want to give your house to a family member because the lien is recorded with the county you may be unable to transfer title in the house to someone else. While tax liens are not an aggressive tax collection method, they are upsetting and annoying.

Our consultations are always FREE and confidential, so call us today!