The IRS can make your life miserable by filing a federal tax lien against you.
When a tax lien is filed against you, it is a frightening and confusing time. But the worst thing you can do, is do nothing. Your tax problems will not go away by themselves and waiting only makes matters worse. This is a serious legal issue and you need an experienced, local tax attorney like Bill Smith to solve the situation and get you out from under the IRS.
The federal government is aggressive and experienced at collection of taxes. This is what they do. And while it’s true that they want your tax problem solved as much as you do, don’t be fooled into thinking a “kinder, gentler” IRS will give you a good deal. It’s their tax agents’ jobs to collect the maximum amount of taxes, penalties, and interest. Many taxpayers make the costly mistake of trying to handle a conflict with the IRS by themselves. You should instead hire an expert tax attorney who knows how to resolve these issues.
Here are some things you should NOT do:
Do not jump at an IRS offer of an installment plan:
These agreements, which may seem like a good way out of your tax predicament, are stiff payment plans that end up costing you more than it would have if you’d retained expert tax representation. Local attorney Bill Smith is better equipped than you to protect your rights and seek a resolution that is in your best interest—not that of the IRS.
Do not sign any forms sent to you:
When a tax lien is filed against you, the IRS will try to contact you by mail and telephone. One may be a waiver, which extends the period during which time the IRS can collect the tax. This obviously does not help your case!
If contacted by the IRS by phone, do not give out information:
These IRS employees are well trained in how to get information that could later be used to seize your possessions and assets. They are just doing their job—to get the highest recovery possible for the government.
But the good news is the IRS is required to respect your right to obtain tax representation. Once you hire Bill Smith, the IRS cannot contact you. They now have to deal with Bill. He will see that your rights are protected. He will minimize the amount of taxes, penalties, and interest you have to pay.
There are many reasons people fall behind in paying their taxes. But don’t let fear or uncertainty make matters worse. An ignored tax lien can lead to an IRS tax levy which could empty your checking and savings account or take away most of your paycheck. Instead contact Bill Smith today. With more than 30 years experience he can manage and resolve your tax lien problems, restore your good credit and give you back peace of mind.
Have IRS Tax Lien Problems? Get Help Dealing With Your Tax Lien From A Local Dallas Attorney
The IRS can make your life miserable by filing a federal tax lien against you. The IRS can place a tax lien on your property when you owe federal income taxes that are overdue. When the IRS files a tax lien, they file a document with the country government that creates a public record indicating that you owe an unpaid tax debt to the government. A tax lien works to protect and preserve the government’s ability to collect money that it determines that it is owed. The tax lien becomes public record and may have a significant negative impact on your life. It can negatively impact your credit, can prevent you from purchasing a new vehicle or receiving other lines of credit. It can adversely affect your ability to buy property, take out a lease on a home, or find employment.
IRS Tax Liens Can Harm Your Personal Credit
An IRS lien is different from an IRS levy. An IRS lien is a document filed with your local county government letting the general public know that you have an unpaid debt to the federal government. The lien protects the government’s ability to collect the money it is owed. In contrast, an IRS levy is the action of collecting the taxes owed by seizing a bank account or garnishing wages.
How can you manage a tax lien when it is filed against you?
Liens can only be Released, Discharged, Subordinated or Removed. When you have a tax lien placed against you, we can work to help you determine the best course of action for your situation. Your options may include:
- Pay the IRS the tax bill in full (including any penalties).
- Submit an acceptable Offer of Compromise and then fulfill its terms.
- Let the statute expire (this requires 10 years from date of assessment).
- Claim that the tax lien was filed by mistake, and file an administrative claim to have the IRS remove the lien from your record.
We recommend that you meet with us before deciding on a plan. Remember that a release of lien occurs after the underlying tax liability has been satisfied in full. This can often be done by a monthly payment plan, by paying it outright in a lump sum, or an accepted and paid Offer in Compromise. Most liens are generally released after 10 years from the date of assessment, but the IRS may choose to re-file the lien for another 10 years.