IRS Federal Tax Liens: How to Prevent and Remove Them Fast IRS tax liens occur when a taxpayer fails to pay business, payroll or income taxes. The IRS has the power to file a lien against you but they can be removed.
An IRS Tax lien is a public notice from the IRS that they have a claim against your property such as your bank account.
Tax liens occur when a business or individual fail to pay business or income taxes.
If taxes are not paid on time, the IRS can also place a lien on the property of said business or individual.
If you already have an IRS tax lien filed or worried about getting one, TheCPATaxProblemSolver can help.
We will rectify the tax debt issue to get the lien lifted.
UNDERSTANDING TAX LIEN
Tax liens are public legal notices that state that a party—the IRS—has a formal claim against the party named in the lien. It covers a great array of properties, including the money in your bank, your car, your home, your 401K plan, and more. As these liens cover so many types of assets, they are no small matter.
A lien also indicates to the public that the IRS needs to be paid first. If you plan to sell a certain asset to a third party, you will find it extremely difficult to do so, as you are now recorded as a credit risk. Hence, it is pertinent that you take swift action to avoid liens.
One of the quickest ways to get liens lifted is to pay what you owe. If you cannot afford to pay the whole amount in one go, a viable alternative is to offer the IRS a settlement amount. That amount will be lower than the total tax liability owed.