A Federal Tax Lien is a PUBLIC notice to your creditors stating that the IRS has a claim to your property.
When the IRS has failed repeatedly to collect an overdue tax debt, they will issue a tax lien on property and assets. This lien places them first in line for payment should the home, property or asset be sold, and can be a tremendous burden to overcome when trying to sell a home. The IRS still has the right to collect even if you acquire property or assets AFTER the lien is filed.
IRS tax liens are damaging in a variety of ways:
- They prevent you from selling property.
- They make getting bank loans very difficult.
- Credit is negatively affected.
- They are a public record.
When you have a tax lien placed against your home, property, or credit, it not only affects your ability to borrow, it is a public notice to employers, spouses, business associates and others that you have a tax debt. The results are not only financially challenging, but embarrassing. Any way you slice it, a tax lien is something that must be addressed.
If there is an IRS tax lien on your home or property, you may qualify to have it temporarily lifted to allow you to refinance or sell.
Many taxpayers bought homes and investment properties during the housing boom, and the downturn in property values has many currently looking to refinance to take advantage of historically low lending rates. For those with a tax lien, however, getting low rates and a refinance to go through can be very challenging.
Our legal team has worked with many lenders, borrowers and real estate agents to broker a lien subordination with the IRS, where the tax lien is temporarily lifted allowing the transaction to clear without the tax debt being repaid in full. This solution is especially useful when using equity in a property to pay off a negotiated settlement, and can also be a smart option to take advantage of favorable interest rates and market conditions. When you call, a tax relief consultant can help explain this program in greater detail, determining if it’s the right solution for you and your property.
Getting Help with your IRS Tax Lien
The first step towards successful resolution is to acknowledge that your tax debt and Federal IRS tax lien won’t go away on their own and to seek professional assistance. Our firm of tax relief attorneys and tax relief professionals has helped thousands of individuals and businesses just like you stop forced collections and finally resolve their tax debt.
Call 1-800-969-0659 today!
Our tax relief professionals will take the time to discuss your issue free of charge, and help map out the best solution moving forward. Rest assured, all information is confidential, and nothing will be shared.
We understand that you have many options when it comes to choosing the right tax relief firm, and we welcome the opportunity to help you patiently through this process and bring closure to this important financial consideration.