Benjamin Franklin was famous for many things, including his ability to develop memorable turns of phrase. The American founding father famously mused, “In this world nothing can be said to be certain, except death and taxes.” To tag onto Franklin’s famous words, the Internal Revenues will reliably pursue any suspected unpaid taxes. Tax officials mightcontinue reading…
Tax Liens
Internal Revenue Service may use liens to make up tax debt
Gathering all of the necessary documentation to file income taxes every year can seem like a daunting task. Coming to the realization that you owe more to the Internal Revenue Service than originally thought makes the situation even more onerous, especially if the tax burden is unaffordable. In this situation, a person may have tocontinue reading…
Tax liens can have damaging effect on credit scores
When the Internal Revenue Service believes that an individual failed to meet his or her full tax burden, the agency may do whatever it takes to recover funds. As such, the IRS may attach a lien to personal property, which means that they can claim it if a person fails to pay up. Right offcontinue reading…
Taxpayers often left with few protections when dealing with liens
When local governments accuse someone of failing to pay property tax bills, a lien may be attached to the property in question. This means that the government can seize the property if the owner fails to pay the outstanding taxes or negotiate a repayment plan. This can be a confusing and scary experience for homeownerscontinue reading…
What happens when a federal tax lien is attached to property?
Seeing a notice from the Internal Revenue Service arrive in the mail isn’t likely to be a welcome sight. When federal officials claim that taxpayers have failed to pay their full tax liabilities, a lien may be attached to their personal property. This essentially means that the government is laying claim to property until thecontinue reading…
