Tax Liens Or Tax Levies Require Immediate Attention
What is a tax lien?
If you are in arrears with your income taxes the IRS or a state taxing authority may file a claim against your property or assets – this is called a tax lien.
A tax lien is a legally enforceable claim against your property to secure payment of government taxes. Tax liens can be enforced for delinquent taxes owed on your property such as bank accounts, home, cars, investments, etc. as a result of failure to pay income or other taxes.
In other words if you are late paying your taxes and you do not make arrangements for payment the government can seize your assets in settlement of the tax owing. This can be the IRS for federal income taxes or state income taxes such as the Franchise Tax Board in California. They have broad powers and should not be ignored.
Resolving a tax lien must be a priority or you risk losing your assets – your wages, your home or other valued possessions can, overnight, be taken if you don’t resolve your tax obligations.
If for some reason you find yourself without the money to pay your taxes on time, do not make the mistake of ignoring it and hoping that it will all go away. It won’t. And the longer it goes without resolution the more aggressive the IRS or Franchise Tax Board will become with their collection activities.
As tax attorneys with extensive experience with IRS tax problems we can help you with your tax lien crisis. We offer a complementary consultation about your situation. Please call today 626-440-9518.