Federal Tax Liens can make your life miserable! When you fail to pay your taxes, the IRS can place a lien against all of your assets, especially real estate. This gives the IRS the legal right to collect your past due taxes from the sale of your assets, and this can include everything you own!
A lien can be placed against you, your spouse, or your company. A lien against your company will seize accounts receivable. At this point, everything you own is within the grasp of the United States Government.
A lien filed against you by the IRS will also show up on your credit report. This can prevent you from opening a checking account or borrowing against assets, like your home. With a Federal Tax lien on your record, your hands are tied! You can’t get a reasonable loan to purchase a car, and you can’t buy or sell any Real Estate. The list of difficulties is endless.
If the IRS has placed a lien against you, call our office and talk to a tax specialist for help, today! 615-326-TAX9.