WE MAKE YOUR IRS TAX MYSTERY, HISTORY!

STRATEGIC TAX LAWYERS:  TAX BLOG

Some Great Tips to Offset Your Unpaid Debts

Wednesday, May 13, 2015

We are the Strategic Tax Lawyers, a firm made up of Intent to Levy Attorneys and IRS Bank Levy Attorneys. If you are looking for Santa Monica Tax Attorneys who specialize in tax liens, the Strategic Tax Lawyers is the firm for you.

From time to time, the IRS will file a Federal Tax Lien against taxpayers who owe the government money due to unpaid tax liability.  A federal tax lien is a public record that will be filed in the County where a taxpayer resides or has a business.  A tax lien is serious governmental action which notifies there is an unpaid tax debt that needs to be collected. 

Federal tax liens will include property, income and assets. If taxpayer sells the property while there is a lien then the taxpayer will need to pay the IRS with the proceeds of the sale before the taxpayer receives any money.  The IRS is prohibited from using tax liens to collect any individual shared responsibility payment, but if a taxpayer owes a shared responsibility payment, then that can be used to offset the money due to the taxpayer.

Federal tax lien information is often picked up by credit bureaus and reported on your credit report, which means that your credit score will affect your credit score. Tax liens will keep a taxpayer from obtaining any form of credit until the tax debt is paid off.  It will be very difficult to purchase big ticket items such as property or cars, which will require credit scores to purchase the items.


The IRS can work with you and create a payment plan if you are unable to pay your taxes in full. However, be aware that any tax debts you have will reduce the amount you receive from your federal tax refund.  In most cases, the Department of the Treasury will take your federal tax refund to cover any unpaid tax debts, both state and federal. Your tax refund will be reduced to offset your unpaid tax debt and the government also has the ability to use your tax refund for debts such as child or parent support that is past due, student loan delinquencies, or unemployment compensation debts.


You will be notified by mail if the Department of the Treasury will use your refund to offset your federal or state tax debt.  You will receive information about the offset amount and which agency received the payment.  If you want to dispute the offset, you may want to contact a tax attorney who specializes in tax liens, such as the Strategic Tax Lawyers who are made up of Intent to Levy Attorneys and IRS Bank Levy Attorneys.  We advise that you do not contact the IRS directly.


We are the Strategic Tax Lawyers, Los Angeles Tax Attorneys who specialize in tax liens.  Tax lien are serious and will affect your credit and your tax record. Call the Strategic Tax Lawyers at (800) 669-4775 for a free case consultation.