What are IRS Tax Liens?
IRS tax liens are the government’s legal claim against your property when you neglect or fail to pay a tax debt. IRS tax liens protect the government’s interest in ALL of your property, including real estate, personal property and financial assets. A federal tax lien exists after the IRS:
- Puts your balance due on the books (assesses your liability);
- Then, sends you a bill that explains how much you owe (Notice and Demand for Payment).
And, you neglect or refuse to fully pay the debt in time.
The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.
If you get one of these notices, let us know. Our tax professionals are only a phone call away!
Release of Lien Request — IRS tax liens on a taxpayer’s property are supposed to be removed within 30 days of paying off a tax debt. There may be situations where we can get a Notice of Federal Tax Lien “partially released” before the debt is paid off. For example, let’s say that you’re looking for work and your prospective employer will hire you but tells you that you have to get any IRS tax liens removed first. In such an instance, we may be able to petition for the IRS tax liens to be released. They may do this because if you can gain employment, then they will benefit as well since it will enable you to pay off your tax bill. This will not release the lien itself, but can get the notice of the lien pulled at the county office so the prospective employer’s request can be satisfied. There may be other situations where you want to get IRS tax liens subordinated so you can refinance your house to help pay off your tax bill. We will look at any options that may be available to our Clients in this area.
It’s better to have an experienced tax professional deal with problems related to IRS tax liens. Call us today for experienced and knowledgeable help!