A federal tax lien is one of Internal Revenue Service responses to unpaid tax debts. It is a legal claim against your property by the IRS. A federal lien protects the government’s interest and alerts creditors that the IRS has a legal right to your property. Property at risk includes real estate, vehicles, and financial assets.
How You May be Affected by an IRS Lien
Sometimes people who receive notice of federal tax liens, plan to pay the IRS by selling assets. A tax lien complicates this plan as it can prevent you from selling any property or assets. Here are ways a tax lien may affect you.
- All your assets such as real estate, vehicles, and investments may get attached during the lien. If you own a business, your business property including your accounts may get attached too.
- An IRS lien may limit your ability to obtain credit.
- The Notice of a Federal Tax Lien and any existing tax liens, or debts continue even after you file for bankruptcy.
How We Help
Our lawyers are well-versed in identifying candidates and guiding them through the process to find the most strategic resolutions. Here are some of the ways we can help:
IRS Lien Withdrawal
Our attorneys can help you apply for a lien withdrawal with the IRS, requesting the authority to remove the ‘Notice of Federal Tax Lien’, assuring other interested entities that, it is not competing with them for the defaulter’s property.
While this does not remove the lien, it means a named creditor is allowed to move their position ahead of the United States’ position for the purpose of claiming the property subject to IRS lien. It makes it easier for the owner of the property to get a loan or mortgage while the IRS lien is in place.
Discharge of Property
The IRS grants discharge of property under several provisions. Nick Nemeth is a highly experienced IRS tax lien attorney who has dealt with all such provisions and can help you get a discharge of property under one that applies to you.
Need Help with IRS Lien Removal in Dallas, Fort Worth TX? Contact Us, Today
Our law firm can help even if you cannot pay back what you owe the IRS in full. In fact, you have more options than you know. Let the lawyers at Law Offices of Nick Nemeth, PLLC find the right solution for your tax lien.
To schedule a free confidential consultation with Nick call us at (972) 484-0829 or complete our form to ask us your question.