Failure to pay your taxes can result in limitations on your right to sell your property. The IRS can use tax liens to get you to pay your tax debt. Tax liens are recorded by the IRS with the county you live in. The recorded lien lets the public know that you owe taxes and so may not be able to sell your property. Click Here For IRS Tax Liens!
IRS tax liens generally last until you have paid the IRS the money you owe them. Technically, tax liens can only last for a certain period of time (called a statute of limitations). However, there are many ways around the statute of limitations, so that you usually cannot simply "wait out" tax liens.
Why Tax Liens Are Such a Burden
IRS tax liens can also affect your ability to give your property away. Even if you want to give your house to a family member, because the lien is recorded with the county, you may be unable to transfer title in the house to someone else. While tax liens are not an aggressive tax collection method, they are upsetting and annoying.
The quickest way to get the IRS to remove the lien is to pay what you owe. If you can't afford to pay the whole amount, you may be able to offer the IRS a settlement amount lower than the total you owe. These "offers in compromise" can be put forward by experienced tax professionals. At Tax Tiger, offers in compromise are our specialty. Our Tax Tiger team frequently gets the IRS to accept settlement offers of up to 90 percent off the tax amount originally owed. Our tax lawyers can tell you if you qualify for this. Consultations are free, so call the Tax Tiger team today to schedule an appointment.
