What is an IRS Tax Lien?
A tax lien that is imposed by the IRS upon personal property to obtain and secure the payment of back taxes or tax debt owed to the IRS. Failure to pay or file income taxes is taken quite seriously by our government’s tax law, however sometimes their tactics are of a bullying nature.
Your tax lien will eventually become public record and be devastating to your credit report. The ability to obtain a business loan, purchase a house or apply for any other loan or credit card will be seriously impeded.
Hears the good news – These IRS tax liens may be appealed and eventually lifted. We call this a tax lien release.
We get approached daily by individuals with stories of how the IRS has treated them and the relentless pursuit of their property and wages. We explain to our clients that this process can be fought, appealed and reversed. Our tax specialist, Jay Allen Finn, does this every day for clients in similar situations where the IRS has made claims against them.
There is always a tremendous amount of relief and burden lifted once Mr. Finn gets to work on IRS tax liens. He will fight for your rights! Relieve your anxiety today and contact Jay Allen Finn.
Tax Liens, IRS Levy, “ASFR returns” and Solutions
[Posted on March 1, 2011]
There are several tax levies and partial levies that IRS can apply. The most well known and biting is the one I often see here at my office: the Wage levy or wage garnishment!
(Others; to be explained later could be a percentage of Social Security, Military pay, Brokerage account or bank and Credit Unions).
Wage levies are often so biting because a married person with one child could lose up to 70% (2/3) of their check each payday (garnished and sent to IRS).
IRS is often looking to get your attention here (not necessarily have you set up a plan) or have you acknowledge these late taxes.
Usually, if you have not answered letters from the IRS and/or not filed or recognized your back taxes, the IRS may have filed for your ASFR returns. In most of these cases one must be tax compliant before we make your levy go away. If you bring your tax liability or IRS Levy to us in time, I can often lift the levy in time by IRS Fax to your payroll department.
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