We’ve all heard of tax liens, and even though not everyone understands the full scope of liens and what they are meant to do, we are all aware of the negative connotations. Simply put, a Federal tax lien is a legal claim against your property (real estate, vehicles, financial assets) by the IRS for delinquent tax debts. It protects the government’s interest and alerts creditors that the IRS has a legal right to your property. It also severely handcuffs you financially.
Here are just a few ways a tax lien may affect you:
All your assets, including real estate, vehicles, and investments, may get attached to the lien, complicating your ability to sell any property or assets.
An IRS lien can keep you from obtaining credit.
A Federal tax lien and another existing tax liens or debts continue even after you file for bankruptcy.
How Pairett CPA, PLLC can help
IRS Lien Withdrawl – We help you with a request to the IRS to remove the lien it has placed against your assets.
Subordination – This process does not remove the lien, but it does make it easier for the property owner to get a loan or mortgage despite the IRS lien still being in place.
Discharge of Property – Occasionally the IRS grants discharge of property under several provisions. Call Pairett CPA, PLLC to see how this may apply to your tax debt situation.
Call Pairett CPA, PLLC at 940-498-7422 for a free consultation!
Pairett CPA, PLLC is versed in all aspects of the IRS lien removal process and is here to help. Bottom line: You have options when you choose our experienced CPA Firm.