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Tax Liens Archives

Discussing tax liens and your options

When the topic of taxes comes up, one of the inevitable issues that will get discussed is the tax lien. Tax liens are commonly used by the IRS, but they can also be used by other parties and individuals. So what is a tax lien and how should you proceed if you are unfortunately targeted by one such a lien?

Can one's credit score be restored after a tax lien filing?

Being on the receiving end of a federal tax lien can be unwelcome, for a variety of reasons. The lien will show up on an individual’s credit history check, with the likely result being either denied credit or qualifying for new credit only under an exorbitantly high rate of interest. A federal tax lien may also last for up to ten years, although the IRS generally will release it within 30 days of receiving payment of the tax debt at issue.

Is the IRS getting slapdash with federal tax lien filings?

As we discussed in a recent post, the IRS is bound by certain notice procedures regarding a federal tax lien. Before the Notice of Federal Tax Lien is filed, the IRS typically must assess the liability, send a Notice and Demand for Payment, and allow the taxpayer 10 days to pay the disputed amount.

What are a taxpayer's procedural rights against an IRS tax lien?

If you receive correspondence from the Internal Revenue Service about an alleged tax deficiency, it is important to understand your options. There are certain procedural protections afforded to a taxpayer, and an attorney that focuses on tax law can help individuals communicate with the IRS along each step of the way.

When tax troubles develop, don't delay in seeking help

While larger than life in many ways, celebrities are not immune to many of the same problems we all face. We all have responsibilities and obligations to which we'd rather not attend, among the most dreaded of which includes forking over a sizable portion of one's earnings to the Internal Revenue Service.

Tax liens and the far-reaching credit score implications

Many taxpayers who struggle with tax debt problems are also married and have children. In a previously blog we discussed IRS tax liens and situations that may result in a lien being issued against a taxpayer. For example, the IRS may take action to impose a lien against an individual's home, motor vehicle, bank account or business assets if he or she fails to pay tax debt. 

Tax debt and IRS levies

For individuals who are dealing with tax debt, attempting to sort out or pay back taxes can be a frustrating, confusing and overall draining process. In cases where attempts to rectify tax debt issues go unresolved for too long, the Internal Revenue Service may take steps to levy an individual's personal assets, belongings and property.

Are you dealing with an IRS tax lien?

They say there are two certainties in life—death and taxes and, when it comes to the latter, one can be certain that the Internal Revenue Service will notice if taxes aren't filed or paid. When dealing with tax debt or a disputed tax bill, it's wise to address the matter promptly. Failure to do so can result in the IRS imposing additional fines and penalties including a federal tax lien.

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