| You Didn't File...and now you owe thousands in back | | | | destroys your credit in the future. You could easily go |
| taxes. So what happens now? Well, chances are the | | | | from having a 750 credit score to a 500, just from |
| IRS has been sending you letters trying to collect on | | | | having a tax lien. |
| their money. They may not seem very important, and | | | | Your Assets are in Trouble: The IRS can also place a |
| you won't know the severity of the situation until you | | | | lien on any of your assets such as your house or your |
| get the Final Notice. If you've gotten a Final Notice and | | | | car. Mostly, this lien is saying that the IRS is holding the |
| they've talked about implementing a tax lien, you're | | | | ownership of the asset. But the longer you go without |
| situation just took an extreme jump from bad to | | | | resolving your debt, the closer the IRS gets to turning a |
| worse. | | | | lien into a seizure. When this happens, they seize the |
| How Bad is It? The notice told you that you have ten | | | | property entirely and sell it in an auction in order to pay |
| days to either pay the debt in full, or set up a payment | | | | the debt. Trust me; the IRS has no problem putting |
| arrangement. As a former IRS-Hitman, chances are | | | | people out on the street if it means getting their |
| good that by the time you get that notice, the lien has | | | | money. |
| already been put into effect. For all intents and | | | | Make it Stop: A tax lien can be removed. But |
| purposes, you should pretend your first letter in your | | | | depending on your situation it can be difficult. Not to |
| final notice. But if you've already gotten that final notice, | | | | mention that if you are going to have a lien removed, |
| here's what to expect: | | | | you must of course set up some form of payment to |
| Bye, Bye Credit: The most common lien is one that's | | | | the IRS. The best way to do this is to seek |
| place on your credit. The IRS knows how to hit you | | | | professional help. Look for a resolution company with |
| where it hurts and they're going to do just that. This is | | | | an excellent track record. They will be able to help you |
| like having a black spot of death on your credit. Not | | | | resolve you issue so you don't have to worry about |
| only does it make it nearly impossible to do anything | | | | bad credit or worse, no place to live! |
| involving credit (take out a loan, refinance your | | | | Now you have the Smoking Gun...Use It! |
| mortgage, buy a new car, etc.) but it practically | | | | |