Tax Liens

Tax liens create massive headaches. An IRS tax lien tells everyone that the tax agency owns this much of your assets, but hasn't picked them up yet. The lien shows what taxes you owe, for what years, and the total amount owed, including penalties and interest. This information is now a public record in the county in which you live. It will remain on your credit report for ten years, even when it is paid off.

When you want to buy a house or car, the credit report shows IRS tax liens, with original amounts. The salesman looks at you and says "I'm sorry, you have tax liens, we can't extend credit to you." How will you feel when this happens?

The IRS is required to notify you of the lien. THIS IS A THIRTY DAY NOTICE THAT YOUR CASH IS GOING TO DISAPPEAR! The notice usually states "Final Notice Before Levy," and gives you thirty days to pay up, or the levy will be enforced. "Enforced" means wage garnishments, bank account attachments (levies), or seizing your property.

If you get an IRS lien notice, contact me immediately. You MUST act immediately, to avoid the wage garnishment or bank account attachment. Contact me NOW. Thirty-two days from now will be too late!