What is a Tax Lien?

When it comes to collecting tax debt, the IRS has a variety of options to use. Certain ones can only be used when proper criteria have been met. That is the case when it comes to a lien.

A lien is the Federal government’s claim against the property of a taxpayer who does not pay their tax debt. This is not a levy, where the property is seized by the IRS. In this case, the government is saying it has the right above anyone else, to the value of the property in order pay the tax debt. This declaration will apply to any current of future personal assets. This would apply to a business as well.

        A lien is only issued if a tax debt is noted and bill sent asking for payment. If this notice is ignored, then a lien can be issued. This can be a devastating situation, but there are options. Visit our site here to see how we can help you.

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