Tax liens are one of the more aggressive ways the IRS goes about enforcing the collection of tax debts. When an individual, or business, does not pay their taxes there are many avenues the IRS can take in order to be help guarantee they get the tax money they are legally owed. When the IRS files a lien against your property, you are not necessarily losing your property rights, however there are negative consequences to having a federal tax lien on your property. For example, should you sell your property, the IRS will be able to collect your back owed taxes directly from the sale of the property. This is even before your original bank loan has been paid off. So, if you owe $10,000 to the IRS, owe $250,000 to the bank, and you sell the property for $250,000, $10,000 of that will go directly to the IRS. This means you will still owe the bank $10,000, even after the sale. In addition, a federal tax lien will have a negative impact on your credit score. Until the back taxes are paid and the lien is removed, you may find it all but impossible to obtain additional loans or other financing.
We know that having the IRS put a lien on your property is far from ideal, especially because an unresolved tax lien can lead to a tax levy and the actual seizure of your property. If you have received notice from the IRS stating they intend to put a federal tax lien on your property, it is vital that you consult with a skilled tax relief lawyer right away. When you contact our firm, we will be able to review the IRS' claim, evaluate the options available to you, and advise you on how best to proceed. Time is of the essence in cases like this, so do not delay in contacting a Tampa IRS tax relief lawyer from our firm as soon as possible. That way measures can be taken to help stop the lien from being put on your property.
Before the IRS puts a tax lien on your property, contact Tampa IRS tax relief attorney Brian Loughrin and find out how we can help.