Federal Tax Liens
Do You Currently have a Federal Tax Lien?
If the IRS notifies you that you owe taxes and you do not pay, they can place a lien on your property or even seize your property in order to collect their taxes. Federal Tax Liens can really turn your life upside down! The IRS can attach a lien to all your property such as your house, car and your bank accounts and garnish your wages when your taxes are not paid. This gives them the legal right to collect taxes from the sale of your assets, which includes just about everything you own.
This lien can be against you or your spouse assuming you filed jointly for the given year, or your company. Having a lien against your company means that the IRS can seize your income or accounts receivables. From that moment on, everything you own is just one step away from becoming the property of the United States Government.
Liens filed against you by the IRS will also show up on your credit report. This can prevent you from opening a checking account or borrowing against any assets, like your home.
Remember, having a Federal Tax lien on your record prevents you from getting a reasonable loan to purchase a car or home. You will only get astronomical rates. The list is endless.
We can help you get this resolved. Call us at Fajardo & Associates today.