IRS Liens

Federal Tax Liens can really make your life miserable! When your taxes are not paid, the IRS establishes a lien against all of your assets (especially real estate). This gives the IRS the legal right to collect taxes from the sale of your assets, which includes just about everything you own.

The lien can be against you, your spouse, or your company. A lien against your company would seize your accounts receivable. Liens filed against you by the IRS also show up on your credit report. This can and often will prevent you from opening a checking account, obtaining a reasonable loan or borrowing against any assets, like your home. The banks don’t want the extra work when the IRS comes in to take your money.