| Here are some handy answers to some frequently | | | | Why would the IRS file a tax lien against me? |
| asked questions regarding IRS tax liens. | | | | The Internal Revenue Service files it for the purpose |
| What is an IRS tax lien? | | | | of securing payment of unpaid taxes. If you have been |
| An IRS tax lien is when the federal government, | | | | served with a tax lien, it is almost always because you |
| through the Internal Revenue Service, places a claim | | | | owe some or all of your taxes. It can also be filed |
| against your property to secure a tax debt. Before the | | | | against a corporation, an estate, company, trust, |
| IRS can file it against you, you must receive a notice | | | | partnership, or association, as well as an individual. |
| of payment due. If you fail to pay the debt after ten | | | | How do I get a tax lien dropped? |
| days, the IRS will continue a lien against your property | | | | The only way to get it dropped is by full and |
| for the amount owed. It is applied to all of your | | | | immediate payment of the money owed. This can be |
| property like your home, car, and business accounts | | | | accomplished by paying your debt or an Offer in |
| receivable. The lien will, no doubt, also affect your | | | | Compromise in full. If you agree to the terms of a |
| credit score. | | | | payment plan to the Internal Revenue Service, the lien |
| How do I know if the IRS has placed a lien on my | | | | will not be dropped until you have reached payment in |
| property? | | | | full. If the statute of limitations expires on your debt, the |
| Before the IRS can place a lien on your property for | | | | lien should be immediately revoked. |
| unpaid taxes, you will receive a Notice and Demand | | | | How can I prevent getting a tax lien on my property? |
| for Payment. If you take no action thereafter, the IRS | | | | To avoid being served a tax lien against your property, |
| will send you a Notice of Federal Tax Lien. | | | | you need only to pay your taxes in full and on time. |
| Is there a difference between a tax lien and a levy? | | | | Can I appeal a tax lien against my property? |
| A levy is when the IRS actually takes possession of | | | | You can appeal it by contacting the managing agent |
| your assets against tax debt. This can take the form | | | | of the unit filing the lien against you and ask him or her |
| of a bank levy, a wage garnishment or property | | | | to review your case. You can also request a |
| seizure. It is a sort of mortgage against your property, | | | | Collection Due hearing. This hearing will take place in |
| in that if you sell it you must settle the taxes owed | | | | the Office of Appeals jurisdiction. You will need to |
| before the buyer can assume true ownership. The tax | | | | present a well-documented case as to why a lien |
| lien is a guarantee. The levy is the action of taking your | | | | against your property should not be imposed. |
| assets. | | | | |