The IRS is empowered by law to collect tax debt in a number of ways. One of the ways the IRS may collect what you owe is by obtaining federal tax liens. Federal tax liens are encumbrances (limitations on your legal right to your property). Federal liens cover everything from your real estate holdings (your house) to the money in your bank and the car in your garage.Click Here For Federal Tax Liens!
The IRS can keep federal tax liens until you have paid off your tax debt. Federal tax liens can even cause problems when you try to sell your house. Money from the sale of property under a lien will go to the IRS. Federal liens can also force your bank to send the IRS your money in some circumstances.
Handling Federal Tax Liens
Although a federal lien does not affect you until you try to do something with the property covered by the lien, it can still make it hard for you to get credit, for example. The lien will remain in effect until you have satisfied your tax debt. Once your debt has been paid, you can file for a removal of the lien.
One way to satisfy your debt is to obtain a settlement. If the IRS accepts your settlement offer of a reduced lump sum payment, your lien can be removed. Our Tax Tiger team has successfully settled thousands of cases! When you complete an installment tax payment plan, federal liens are ended. Our Tax Tiger attorneys can counsel you about your ability to enter into an installment plan with the IRS. It is in your best interest to remove federal tax liens quickly, so we encourage you to contact our team today to find out more information about this option.
