Why an IRS Tax Lien is Serious and Should Not Be Neglected
Do you have a tax lien on a piece of property that you own? If so, you should take this seriously.
This is not a game that the IRS is playing.
They want the money you owe, and are already taking collection actions against you to get it.
Even if you ignore the lien they are still going to get what is coming to them.
A tax lien is a claim on your property for taxes that are unpaid.
Therefore, you cannot sell your house for example, unless the taxes are paid off.
It can be very serious for many reasons.
First off, you owe money to the IRS.
A lien is not used unless you owe money that you have not been paying for whatever reason.
When you are in debt to the IRS you are in a serious position because they have a lot of power.
In addition to a tax lien they can also levy your wages.
In other words, they will begin to take the money you owe out of each paycheck.
There are not many organizations in the world that have as much power as the IRS.
Additionally, an IRS tax lien will ruin your credit.
This may not seem like a big deal right now, but if you ever try to get a loan with one reported on your credit report you can forget about it.
This shows that you have a major problem, and in turn your credit score will begin to plummet.
It is very important that you are aware of how it can impact your credit.
Simply put, your credit is going to be ruined for the time being.
You do not want to look at a tax lien as a laughing matter.
This is serious in the eyes of the IRS, and you should feel the same way.
If you owe money to the IRS and are not paying it back there is a good chance that you will face a lien in the near future.
At this point, it is always best to connect with a tax professional but is not necessary if you have the time to work with the IRS on a resolution or agreement.
This is not a game that the IRS is playing.
They want the money you owe, and are already taking collection actions against you to get it.
Even if you ignore the lien they are still going to get what is coming to them.
A tax lien is a claim on your property for taxes that are unpaid.
Therefore, you cannot sell your house for example, unless the taxes are paid off.
It can be very serious for many reasons.
First off, you owe money to the IRS.
A lien is not used unless you owe money that you have not been paying for whatever reason.
When you are in debt to the IRS you are in a serious position because they have a lot of power.
In addition to a tax lien they can also levy your wages.
In other words, they will begin to take the money you owe out of each paycheck.
There are not many organizations in the world that have as much power as the IRS.
Additionally, an IRS tax lien will ruin your credit.
This may not seem like a big deal right now, but if you ever try to get a loan with one reported on your credit report you can forget about it.
This shows that you have a major problem, and in turn your credit score will begin to plummet.
It is very important that you are aware of how it can impact your credit.
Simply put, your credit is going to be ruined for the time being.
You do not want to look at a tax lien as a laughing matter.
This is serious in the eyes of the IRS, and you should feel the same way.
If you owe money to the IRS and are not paying it back there is a good chance that you will face a lien in the near future.
At this point, it is always best to connect with a tax professional but is not necessary if you have the time to work with the IRS on a resolution or agreement.
