Federal Tax Lien
A tax lien, or “Notice of Federal Tax Lien,” is different from a bank levy or a wage garnishment in that it does not have the ability to take funds directly from your bank account or paycheck. However, the IRS gives great importance to the filing of this because it does two important things: it makes the tax debt you owe public record AND it attaches to any property you own in the county in which the Notice of Federal Tax Lien is filed.
Depending on your balance, the IRS offers programs such as streamlined Installment Agreements to avoid a filing of a Notice of Federal Tax Lien. Further, once there is a Notice of Federal Tax Lien in place, depending on your total balance and ability to repay that over time there may be options for you to request a withdraw of the tax lien. Finally, the IRS will often have a Notice of Federal Tax Lien still on record that should have been released based on the final date they have to collect on a specific balance, and in this circumstance you can often request an immediate full release of that lien. Do you have a Notice of Federal Tax Lien affecting you? Call us at 760-529-4926 or 617-535-3300 today!