If you let your income taxes remain unpaid for too long, the IRS can place a tax lien on some or all of the personal property you own, as well as the property you acquire after the lien goes into effect.
To release an IRS wage garnishment on taxes owed, file back and past due tax returns or settle your tax debt, call us today at 1-800-790-8574.
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But since the IRS gives you plenty of notice and opportunities to address your past-due taxes, the lien should never come as a surprise.
There are a couple of things that must happen before the IRS can place a lien on your property.
First, it must determine the precise amount of tax you owe. If you don’t dispute it, you will eventually receive a Notice and Demand for Payment. At this point, the IRS can create a lien if it doesn’t receive your payment within 10 days. But during this time, it may be a good idea to contact the IRS to discuss any financial hardships you have or to inquire about your payment plan options.
If you ignore the notice, the IRS can choose to file the lien in court. Filing a notice of your lien in court notifies all of your creditors that the federal government has a legal claim on your property. When this occurs, it’s possible that your credit rating will suffer. This means it may be more difficult for you to obtain loans, credit cards and even to enter into a lease.
You should also be aware of the implications of the lien itself aside from your credit rating. A lien on your property doesn’t mean that the IRS is going to take your property. Instead, it just provides the government with a legal claim on your assets. So if you try to sell your home, for example, it will be difficult to find a buyer willing to purchase it while the lien is still valid.
In most cases, the lien remains effective until you pay your taxes. However, there are circumstances when the IRS will release the lien early, but it usually requires that you pay off your tax debt with the proceeds from the sale of your property.
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If all of this seems too overwhelming, then hire a team of professionals to take care of this responsibility for you. Call Advance Tax Relief for a free consultation at 800-790-8574.
We are tax relief experts specializing in IRS back tax help, Installment Agreements, tax lien help, wage garnishment release, IRS Offer in Compromises, tax debt forgiveness and a whole lot more.
Get a free consultation from an experienced tax relief expert today (800)790-8574
Some Recent Tax Settlements:
Mr. Dillard – CA Owed $6884, IRS settled for $400
Mr. Batiste – LA Owed $18513, IRS settled for $2972
Mr. Johnson – CA Owed $21,378, IRS settled for $4500
Ms. Gonzalez – TX Owed $28,816, IRS settled for $1700
Mr. Anthony – NY Owed $14,000, IRS settled for $900
Mr. Wilkes – CA Owed 32,211, IRS settled for $1250
Owe the IRS and need help? Call us to discuss your unique situation with Top Tax Attorney or IRS Enrolled Agent (800)790-8574 or visit www.advancetaxrelief.com
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