A federal tax lien is a way to collect the back taxes used
by the Internal Revenue Service (IRS) or County Government. If you received a
notice of federal tax lien on your property, do not take more time to take
further action. Because getting the lien on your property will affect your
credit report and the rights you have on your property. A lien not only
attaches to the personal property but also real estate and financial assets. To
prevent the lien on your property make sure you are paying the taxes regularly.
Review the Notice
If you received a federal tax notice, don’t make an
immediate call to IRS without reading and understanding it. First, be clear on
what taxes IRS says that you are in debt. Next, verify the same with your
records. If you are disagreeing with the notice don’t hesitate to call the IRS
to get detailed reports. At this point say them you are really interested in
working and resolving the problem in a friendly manner. One of the IRS agents
will check your account details to verify that you don’t owe any outstanding
tax amounts. After that, they will prepare the necessary documents to withdraw
the lien.
Call the
Professionals
If you are agreeing to the notice and have back taxes, find
a reputable tax lien networks to get the problem solved quickly and smoothly. This
is a great option since they have well-experience in dealing with the lienproperties and working with the IRS. Some firms have employees who already
worked inside the IRS. They can help in negotiating the dollars and also
arrange a payment agreement. Before contacting a professional, make sure you
have the required case details and the notice of federal lien you received. The
good thing is the lien will be removed if you paid all the outstanding tax
amounts.
Act Quickly
In this whole process, the key point is to act quickly. A
slow process may lead to losing the property in the auction. Next, your credit
report decreased drastically. Creditors may look for the federal reports. If
you have, they will regret to extend the credit. Dealing with a federal tax
lien notice is not a big process if you know how to solve it. If you don’t
know, immediately hire a professional to deal with it. Tax lien networks will
speak with the IRS and suggest the ways to get rid of the lien. The best method
is to pay all the outstanding debts including penalties. After paid, the IRS
will release your lien within 30 days.
