IRS Lien Removal
If a taxpayer
has delinquent tax liabilities, the IRS has the power to collect back
taxes by levying a taxpayers' property. A tax lien attaches to all rights,
title and interest of the entity or person being levied. After placing
a tax lien on a taxpayer's assets, the IRS may enforce that lien by levying
a person’s assets. It is important to note that a Federal Tax Lien
by itself does not create a right to any assets or property; state law
determines the rights that taxpayers have in property.
A tax lien is filed by the IRS and is typically recorded with a county
recorder’s office. A lien on an asset, frequently a home, makes
transferring title (e.g. selling the asset) difficult. Liens typically
will have an adverse impact on a consumer’s FICO or credit rating.
There are several solutions in dealing with resolving liens and levies,
including lien releases and ultimately coupling a lien release with another
tax relief solution to resolve the IRS debt which caused the lien.
If you would like to discuss any of your Lien Removal options,
please give one of our Tax Specialists a call at: 1-800-455-6829.
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