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STRATEGIC TAX LAWYERS:  TAX BLOG

What is a Tax Lien?

Monday, November 16, 2015
We are the Strategic Tax Lawyers, specialty BOE Tax Attorneys, IRS Levy attorneys and IRS CP-523 Attorneys in the greater Los Angeles area who specialize in tax liens.  What is a tax lien?  Simply put, a tax lien is the action the government takes to legally stake a claim on taxpayer’s income, asset and/or property if they fail or neglect to pay their taxes on time or if they owe money to the IRS.  Most often, the Internal Revenue Service issues tax liens in order to get their payment on taxes that are owed to them.  This can lead to problems for your credit and your tax records.  Tax attorneys take federal tax liens very seriously and our tax attorneys at the Strategic Tax Lawyers can assist you to deflect a tax lien.

A Notice of Federal Tax Lien can be filed even if the IRS has a payment plan with a taxpayer. This is done to assure that the taxpayer will pay the IRS.  A tax lien will cause problems for a taxpayer to obtain any form of credit until the tax debt it is paid off.  Tax attorneys can assist clients eliminate a tax lien as well as appeal the filing of a tax lien or remove the lien from the taxpayer’s credit record.  Taxpayer’s credit scores have been affected up to ten years which makes it difficult to purchase cars, property, or other large items.

The Strategic Tax Lawyers want taxpayers to solve any tax issues to avoid a tax lien.  In circumstances where there are delinquent taxes and there is no attempt made to pay them off, then IRS most likely will issue an intent to levy.  This is a final official notice by the IRS informing the taxpayer that their previous efforts to collect payments were unsuccessful.  Therefore, a tax lien will be filed in order to collect payment.

The tax attorneys at the Strategic Tax Lawyers like to work with clients before the notice becomes a lien. In this circumstance, a taxpayer can escape the negative financial issues that are associated with a lien.  Also, taxpayers working with a tax attorney most likely can reduce the amount owed by up to 50% if they qualify for penalty abatement.  However, if no action is taken, then most likely the IRS will seize the assets.

Do you have a tax lien filed against you?  The Strategic Tax Lawyers, LLP are BOE Tax Attorneys, IRS Levy attorneys and IRS CP-523 Attorneys who specialize in the tax code with years of experience in tax-related and IRS issues. The Strategic Tax Lawyers have over fifteen years of experience successfully helping clients with levies.  If you or anyone you know received a notification from the IRS or if you are at risk of having a tax lien placed against you, contact the Strategic Tax Lawyers at (800) 669-4775 for a free case consultation.