How to Prevent Tax Liens-Act Now

These are challenging financial times for many people. What makes this economic recession so unique is that it has gone on for so long and transcended so many income levels. In it’s wake, it has left an increasing number of consumers more financially vulnerable than ever before. These tax distressed individuals, fearful and often not sure what to do have avoided delinquent tax issues and are finding themselves on the receiving end of an IRS tax lien.

If you are someone who has received a collection notice from the IRS, know that you are not alone; 1-6 Americans has a tax problem. But not dealing with deal with serious and complicated tax issues such as tax liens only gets worse with time, so you need to act quickly.  The IRS does not let you know your tax relief options but expert representation such as a tax attorney or Certified Tax Resolution Specialist will.  These seasoned and certified tax experts will begin your case by filing the proper documentation, an IRS Collection Appeal to stop an IRS levy or seizure and avoid harsh tax liens altogether.

Taxpayers with delinquent tax problems are encouraged to understand the nature of individual tax issues, their prevention and the severity of consequences if not resolved. To highlight the topic of tax liens, here are three key points to bear in mind after receiving an IRS collection notice:

1) What is a tax lien?

• Federal Tax Liens are by definition, a claim against your property as security for the tax debt and include property that you acquire after the lien is filed.
• By filing a Notice of Federal Tax Lien, the government establishes its interest in your property as a creditor in competition with other creditors in certain situations, such as bankruptcy proceedings or sales of real estate.
• Liens are filed with the County Clerk in the county from which you or your business operates and are public records that not only state that you owe IRS taxes but also show up on your credit report.

2) How does a tax lien affect a business or individual?

• According to the IRS assets, such as, but not limited to, improvements such as buildings on trust land, vehicles, bank accounts, earnings, and fee simple land owned by individuals,  are subject to seizure, Federal Tax Liens, garnishments, and levies.
• Tax Liens often make it impossible to obtain financing for goods such as an automobile or home. A lien can also tie up personal property as well as real estate holdings and prevent the sale or transfer such property without a clear title. Once a lien is filed, the IRS generally cannot issue a “Certificate of Release of Federal Tax Lien” until the taxes, penalties, interest, and fees are paid in full or the IRS may no longer legally collect the tax.
• Taxpayers can become stuck under IRS tax liens whereby, they own property they would like to borrow against, but because of an IRS tax lien, cannot get a loan. This inability to access funds can leave a business or person financially incapacitated for years.

3) How can tax liens be resolved?

• Taxpayers can appeal the IRS by filing a Collection Appeal within a certain legal time frame and within the stated rules. It is assigned to an Appeals Officer who is required to make a decision within five days.
• Hiring a seasoned tax attorney or Certified Tax Resolution Specialist can help you navigate the difficult waters and into an IRS tax relief program such as having your case designated “currently not collectible.”
• If there’s a levy already filed on your bank accounts or your assets, your tax attorney or certified tax resolution specialist can help you file an IRS collection appeal to remove your tax lien once and for all.

If you have received a collection notice from the government about IRS back taxes, threatening an IRS tax lien, IRS bank levy, or IRS wage garnishment, expert tax help is available, but act now; time is not on your side! Securing the right tax attorney or Tax Resolution Specialist with knowledge and expertise in handling similar cases to yours, will help put this situation behind you so you can resume your life, business, and keep your credit rating intact.

When searching for a tax resolution firm, I urge you to only consider ones who are part of the Tax Problem Resolution Services Coalition (TPRSC). This professional community is dedicated to ethical practices first, as it is important to note, not all companies who buy TV, Radio or Internet ads are reputable! So check their credentials. See Tax Resolution Services‘ rating!

More Tax Help, IRS News and Tax Relief Tips:

1. Ask the Certified Tax Specialist – Small Business Back Taxes
2. Michael Rozbruch Interviewed in Opportunist Magazine
3. How to Get IRS Tax Relief from Back Taxes or Unfiled Tax Returns
4. Finding Tax Help for IRS Tax Debt
5. Delinquent and Unfiled Tax Returns? 8 Steps to Resolving Them

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This entry was posted on Monday, October 10th, 2011 at 9:37 pm and is filed under Ask the Expert, Back Taxes, Expert Help From Tax Attorney, IRS Tax Cases, Tax Relief News, Tax news and tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.