IRS Federal Tax Lien: How to Prevent Notice of Federal Tax lien and Remove Them Fast.
What is a tax lien? In order to ensure payment of your tax debt, the government may file a legal claim against your property, typically your home or place of business.
How do IRS tax liens get removed?
You are currently paying off your IRS debt through a payment plan. In this instance, a lien is not required even though you still owe money to the IRS because they view you favorably. You and the IRS would both benefit from removing the lien. You have the chance to move to a new, better-paying job a few towns away, but you can't do so without first selling your house. Withdrawing the lien would be in the best interest of both you and the IRS as it would boost your income and ability to pay back your debt. You have a company and a chance to increase sales of your good or service, but you need to borrow money to do it.
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 fails 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 lien filed or are worried about getting one, TheCPATaxProblemSolver can help.
We will rectify the tax debt issue to get the lien lifted.
The IRS is prohibited from filing any further tax liens and will cease collection activity as soon as they receive your application for the IRS Fresh Start Program (section CFR 301.6159-1). This prohibition applies even if you are not accepted into the program.
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.