IRS Tax Liens

An IRS tax lien is a legal claim against your property when you neglect or fail to pay back taxes. An IRS tax lien protects the government's interest in all your property. IRS tax liens are filed against anything of value which you own. This can be your home, business, automobiles, jewelry, or any other property. An IRS tax lien is a public announcement of your back tax debt and gives the IRS precedent over any other creditors.


At many late stages of collection process IRS can file liens against your property without any warning letters. The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors and all others that the government has a legal right to your property. This public knowledge is available at the county recorder's office in which you reside and therefore many tax resolution companies many contact you to offer services. These companies may frequently overpromise but release of that tax lien can only be done via following choices:


1. Full payment of the tax liability
2. Offer in Compromise successful agreement
3. Streamline Installment Plan after establishing good faith
4. Offer to pay in full within 120 days of the assessed balance
5. Statute of limitations expiration


Tax liens will affect your credit, will make it difficult for you to obtain a home or sale a home, and in many circumstances, this type of lien cannot be discharged in a bankruptcy.


A tax lien is different from a tax levy. A lien secures the government's interest in your property, while a levy takes your property to pay the tax debt. However, tax liens can be publically humiliating, and can greatly hurt your credit.


It is the best to avoid tax liens by negotiating with IRS early in the collection process. It will be less costly and frequently is a better option than dealing with the lien after the fact.


To get started today please submit your information via consultation form or simply call Nicholas A. Trishin, CPA directly at 404-585-1040.

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