| Cold Blooded...An IRS tax lien is a very sneaky trick in | | | | credit? Unfortunately once the IRS puts a tax lien on |
| the arsenal of an IRS-Hitman. It doesn't seize any of | | | | your credit it's not as easy to lift as a wage |
| your assets or take any of your money. In fact you | | | | garnishment, or other collection actions. |
| may not even know about it until you try to get a loan. | | | | With a wage garnishment or bank seizure you can get |
| Looking forward to...What exactly is an IRS tax lien | | | | those temporarily lifted as long as you're working with |
| then? It's a serious black mark on your credit. How | | | | the IRS for a solution to your debt. An IRS tax lien can |
| serious? Serious enough that you won't be able to get | | | | only be removed once you've paid the debt in full. |
| a loan for anything, you won't be able to refinance | | | | Some kind of hope...But the IRS-Hitman isn't just giving |
| your house. The interest rate on your credit cards will | | | | you the bad news. I do have a solution that you can |
| go up if they're not fixed. In short your credit is shot. | | | | try. |
| If you have a job that requires security clearance a | | | | Show them the money...You would have to prove to |
| tax lien on your credit will jeopardize your job. | | | | the IRS that the only way you can pay back the debt |
| That doesn't make sense...But wait; if the IRS's goal is | | | | is if they lift the tax levy so you can get a loan. The |
| to collect their debt doesn't a tax lien hinder their | | | | loan would have to be for the full balance of the debt, |
| efforts? Without the option of getting a loan or | | | | and the IRS will verify with your lending institution that |
| refinancing your home, you don't have any way to pay | | | | you can pay off the debt in full if the lien is lifted. |
| off your IRS debt. I can tell you from my time with the | | | | If you want to prevent an IRS tax lien you need to |
| IRS, enforcing collection actions, that the IRS is not | | | | take action regarding your debt as soon as you know |
| exactly efficient. The IRS's collection branch would | | | | about it. Putting off dealing with the debt is how you |
| rather levy your bank account, garnish your wages, or | | | | get liens and levies put on you credit, bank, and/ or |
| seize you assets even if lifting the tax levy would | | | | wages. The best defense is a good offense when |
| allow you to pay them back with a loan. | | | | dealing with the IRS. |
| It can seem hopeless...So how can you get a tax lien | | | | Now you have the smoking gun...Use it! |
| lifted, and start on the long road to repairing your | | | | |