IRS Federal Tax Lien Assistance at ALG Tax Solutions
If you have received a Notice of Federal Tax Lien alerting you that the government has legal right to your property, ALG Tax Solutions is here to help you understand what the notice means and how it can affect you.
While an IRS Tax Lien can be financially devastating to you, there are methods to have the lien removed and withdrawn. ALG Tax Solutions is experienced in this arena and has developed the comprehensive eBook below to help you understand everything you need to know about a Federal Tax Lien imposed on your property, and methods for how to have the lien removed and withdrawn to lessen the impact of the lien on your financial standing.
What is a Federal Tax Lien and what does it affect?
A Federal Tax Lien protects the government's interest in all your property, which includes real estate, personal property, and financial assets. A Notice of Federal Tax Lien by the Internal Revenue Service (IRS) is typically imposed for overdue taxes owed on a property, or failure to pay taxes (i.e. income taxes), as the government's way to secure payment of back taxes. A Federal Tax Lien will typically impact your property – real estate, personal property, or financial assets – and unfortunately can have a negative impact on your credit rating and financial standing. Fortunately, when you work with ALG Tax Solutions, there are steps you can take to address the lien and have it removed.
A Federal Tax Lien could affect the following:
- Real Estate: home, land, and commercial property
- Personal Property: car, boat, motorcycle, plane, equipment, and other business assets
Impact of an IRS Federal Tax Lien:
- Your credit score will be negatively impacted, limiting your ability to get credit
- You may have a difficult time obtaining loans for big purchases – some banks might not even consider you
- You may not be able to refinance your home at a lower interest rate
- Your ability to sell your business, sell business assets, or transfer business assets may be limited
- Your business loans may not be renewed by banks
Difference between an IRS Federal Tax Lien and a Tax Levy
It's important to note that a tax lien is not a tax levy. A tax lien protects the government's interest in your property, while a tax levy is the government taking property to pay back taxes. Examples of tax levies are wage levies, bank garnishments, retirement levies, and property seizures. A tax levy is the IRS' last resort for collecting back taxes.
However, if the taxpayer doesn't cooperate, the IRS does have the option to seize property. Lack of cooperation may include evading contact, hiding assets, or not providing financial information.
Download the FREE IRS Federal Tax Lien eBook
To help you learn more about IRS Federal Tax Liens, their effect, and how to remove and withdraw an IRS Federal Tax Lien, ALG Tax Solutions has developed a FREE eBook – The Comprehensive Guide on Tax Liens.
Included in the eBook is:
- Information on the effect of an IRS Federal Tax Lien on your property
- Financial impacts of an IRS Federal Tax Lien
- Information on the right to contest the IRS Federal Tax Lien
- How to remove an IRS Federal Tax Lien
- How to address an IRS Federal Tax Lien on your credit report
- How to have a Tax Lien withdrawn
- The difference between Federal and Michigan Tax Liens
- And much more!
Just fill out the form below to DOWNLOAD your FREE copy of our eBook: The Comprehensive Guide to IRS Federal Tax Liens