Tax Lien Records

Irs Tax Line

IRS tax lien can bring misery to your life if not properly attended to in a timely manner.

What is an IRS tax lien and how does it pose as a grave threat to your financial standing?  IRS tax lien is the forceful arm of the law that is levied to delinquent taxpayers by setting a lien on their assets.  IRS has an absolute power to file a Notice of Federal Tax Lien against these taxpayers with the intent to collect the unpaid taxes. 

The statutory lien filed is available for public information and can be viewed by creditors and credit reporting agencies.  IRS tax lien can be levied on real estate, vehicles, alimony, computers, furniture, securities and company accounts receivables.

When IRS tax lien has been filed in the government agency, it would be difficult for you to sell your property.  IRS is so powerful that the lien becomes automatic once it is filed even without notice to you.  The IRS tax lien causes a great damage to your credit standing that hinders your capacity to apply for any loan, either for a home, business or credit card.

The penalty for unpaid taxes is ? to 1% per month starting from the tax due date.  A corresponding interest of 6% a year charged on the taxes is compounded daily until the full amount of balance is paid.

To solve this problem, you have to approach the IRS and settle for a compromise agreement to reduce your liability.  You can file an appeal with the IRS and get an Attorney to assist you in resolving issues.  The tax Attorney can do something to reduce your tax debt, make an arrangement for monthly affordable payments and decrease the penalties imposed on the IRS tax lien or totally eliminate them.

There are a few options for you to make if you are faced with IRS tax lien case.  First, you can pay your taxes.  Then, you can make an Offer in Compromise.  Then, you can arrange to remove the lien temporarily.  If you can refinance your home or sell it, the IRS tax lien can be removed.

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