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IRS Lien

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Once the IRS determines you owe taxes and may have difficult paying, they will file Federal Tax Lien.   This is usually filed with the county clerk's office of any county you have property.  The filing of the lien secures the tax debt with your assets, such as your home or any other property you own now and will own in the future.  It also determines what priority the IRS will have over other creditors if and when any assets are sold.

The IRS Tax Lien will be filed against you and, if you filed jointly, your spouse as well.  If the tax is owed by your company, it will be filed against it as well. 

Federal Tax Liens show up on your credit report and, based on studies completed by the Taxpayor Advocates Office, will impact your credit score by 100 points.  At a minimum, interest rates you will pay will be much higher.  At worst, you might be refused loans, even employment.  In the event you want to sell you property or trade in a car, the tax lien can complicate the process or even cause buyers to walk away from the transaction.

Since filing a federal tax lien is not actually taking property away from the taxpayer,  it can be difficult to get a tax lien released.  However, there are some special circumstances when the IRS will work with taxpayers.

Get a Consultation on how to resolve your tax lien problems by completing the form below.

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