IRS LIEN

Federal Tax Liens can really make your life miserable! When your taxes are not paid the IRS establishes a lien against all of your assets (especially real estate). This gives the IRS the legal right to collect taxes from the sale of your assets, which includes just about everything you own.

The lien can be against you, your spouse, or your company. A lien against your company would seize your accounts receivables. At this point everything you own is just one short step away from becoming the property of the United States Government.

Liens filed against you by the IRS also show up on your credit report and often prevent you from opening a checking account or borrowing against any assets, like your home. The banks don’t want the extra work when the IRS comes in to take your money.

With a Federal Tax lien on your record you can’t get a reasonable loan to purchase a car. Think about paying 18-22% interest on a car that is already too expensive. You definitely cannot buy or sell any real estate. The list is endless.

Can an IRS Tax Lien be removed?

Yes, but this is not a simple process. The IRS will remove a federal tax lien if the lien was filed in error, if it becomes unenforceable, when the outstanding balance is paid in full, or if the outstanding balance is otherwise satisfied, such as through a successful offer in compromise.

Once either of the above resolutions have been satisfied, a request can be made to have the IRS release your tax lien. At this point, your tax lien will no longer encumber your property, and county records will be updated to reflect that the lien has been released. We usually can get your tax lien released from the IRS within 30 days, once all resolution agreements have been satisfied.

If you have an IRS Tax Lien and need to be sure you understand your options, click the green button below and schedule your free Tax Strategy Analysis Today!