© Michael A. Ross, CPA, P.C. All Rights Reserved.

IRS Liens

Federal Tax Liens can really make your life miserable! When your taxes are not paid the IRS establishes a lien against all of your assets (especially real estate). This gives the IRS the legal right to collect taxes from the sale of your assets, which includes just about everything you own.

 

The lien can be against you, your spouse, or your company. A lien against your company could jeopardize proceeds from your accounts receivables. At this point everything you own is just one short step away from becoming the property of the United States Government.

Liens filed against you by the IRS also show up on your credit report and often prevent you from opening a checking account or borrowing against any assets, like your home. The banks don't want the extra work when the IRS comes in to take your money.

With a Federal Tax lien on your record you may not be able to obtain a reasonable loan to purchase a car. Think about paying a higher rate of interest on a car that may already too expensive. Furthermore, you may not be able to buy Real Estate.

You may have other alternatives, please contact us for more information on our IRS Lien services.