IRS Tax Liens

The IRS uses tax liens (also known as tax levies) to seize money and assets. Tax liens can put your credit and your assets, including your home, at significant risk.

Credit Lien: The most common lien is the one placed on your credit. This is like a scarlet letter for credit reports. Your IRS debt and your failure to pay become public knowledge. With a credit lien tarnishing your credit reports, it will be next to impossible to take out a loan on a home or vehicle, initiate a lease, or do anything else credit related.

Time is of the essence; the longer you go without paying your IRS debt, the closer the IRS will get to turning a lien into a seizure, when the IRS takes away assets like homes or vehicles.

30-Day Deadline: A tax lien can be removed. The IRS must notify you that they've filed a lien within five days after it's filed. You then have thirty days from the day after the 5-day period expires to file an administrative appeal. This is no easy task, however, so it’s a good idea to consult a certified tax professional. With help, you can avoid damaging your credit. You can also hopefully avoid being homeless or being forced to take the bus!

The IRS will not remove a lien without a fight. If they gave you notice about your back taxes and you didn’t act, now they will want to make you pay. The lesson here is to address a tax lien as a serious occurrence and do so as soon as possible, before it becomes a seizure.

If you would like additional information and assistance with your tax debt, you can get a free consultation to resolve delinquent taxes today!