IRS Liens

Federal Tax Liens can really make your life miserable! When your taxes are not paid the IRS establishes a lien against all of your assets (especially real estate). This gives the IRS the legal right to collect taxes from the sale of your assets, which includes just about everything you own.

The lien can be against you, your spouse, or your company. A lien against your company would seize your accounts receivables. At this point everything you own is just one short step away from becoming the property of the United States Government.

Liens filed against you by the IRS also show up on your credit report and often prevent you from opening a checking account or borrowing against any assets, like your home. The banks don't want the extra work when the IRS comes in to take your money.

With a Federal Tax lien on your record you can't get a reasonable loan to purchase a car. Think about paying 18-22% interest on a car that is already too expensive. You definitely cannot buy or sell any real estate. The list is endless.

While having a Federal Tax Lien on your record is not great, there are times when you can request for the government to waive the Federal Tax Lien based on certain criterias that are explained on the IRS website.  You can apply through Form 12277 - Application to Withdraw Federal Tax Lien requesting to have the lien withdrawn and removed supplying a well-supported explanation and providing proper support.  However, it's not a guarantee the application will get approved but it's an option.  We can assist you in completing the form.

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