Tax Liens

A tax lien is a legal claim against as security or payment for the tax debt. Tax liens can potentially be attached to all of your property (such as your house or car) and to all your rights to property (such as your accounts receivable, if you are a business). A Notice of Federal Tax Lien may be filed only after:

• IRS assesses the liability;
• IRS sends you a Notice and Demand for Payment - a bill that tells you how much you owe in taxes; and
• You neglect or refuse to fully pay the debt within 10 days after we notify you about it.

Once these requirements are met, a lien is created for the amount of your tax debt. By filing notice of tax lien, your creditors are publicly notified that IRS has a claim against all your property, including property you acquire after the lien is filed. This notice is used by courts to establish priority in certain situations, such as bankruptcy proceedings or sales of real estate.

Once a tax lien is filed, your credit rating may be harmed. You may not be able to get a loan to buy a house or a car, get a new credit card, or sign a lease. Therefore it is important that you work to resolve your tax liability as quickly as possible, before lien filing becomes necessary.

San Diego Tax Attorneys have become greatly experienced negotiating with the IRS, and we know that in most cases, a tax lien is only issued when a taxpayer constantly ignores an IRS representative. In other words, the IRS tax liens only happens when the tax collector is forced to play rough due to lack of communication during the collection or auditing process.

The IRS will issue a Release of the Notice of Federal Tax Lien:

• Within 30 days after you satisfy the tax due (including interest and other additions) by paying the debt or by having it adjusted, or
• Within 30 days after we accept a bond that you submit, guaranteeing payment of the debt.

In addition, you must pay all fees that a state or other jurisdiction charges to file and release the tax lien. These fees will be added to the amount you owe.

San Diego Tax Attorneys will help you get rid of tax liens!

About tax lien certificates and federal tax lien at tax related websites