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Tax Liens Or IRS Levy Claims

A lien is defined as a legal claim against property for the satisfaction of a debt. In some cases, the IRS places a lien on taxpayer assets to collect back taxes - a damaging instance that can affect your credit and make it almost impossible to sell your assets without penalty.

Tax liens can potentially be attached to all of your assets, depending on the total tax amount owed. This form of lien enables the IRS to enforce their claim by administratively levying or seizing your assets outright.

Fair Warning

The fact is, a tax lien or IRS levy is one of the most aggressive collection tactics available to the IRS. It is not used in every situation, but you should be warned that if you have a high level of unpaid taxes or have received what is called an "IRS Notice Of Levy", you are a prime candidate for asset seizure.

Tax liens are extremely embarrassing. The fact is, a tax lien puts the world on notice that you owe back taxes. Certainly, this is not something many of us would like revealed to everyone. Tax liens also affect your credit report, as any lien is a negative mark on your credit history.

Be Proactive With Tax Liens

Working with the IRS before they seize your property is obviously the preferred direction every taxpayer should take. Once a tax lien is issued, the IRS is extremely reluctant to modify or release a tax lien. And once a lien is enforced, it is very difficult to remove. This is why contacting us before the IRS levies your assets is a superb idea. If you have already had your assets levied, contacting us can still provide you with IRS help, as we may be able to get the tax levy removed or subordinated to one of your creditors.

Have 10 minutes to sort out your tax problems? Click here to contact us for a free consultation. Also, see our section on Collection Appeals, which will inform you of a process which can ensure that your levy or lien is at least delayed while you get your records together.

Read more about Tax Regulations Section 3421, the section for the Approval Process for Notices of Levy, Liens and Seizures

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