The Federal Tax Lien – What it is and What to Do

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A powerful tool in the Internal Revenue Service’s arsenal is the tax lien. A tax lien is a legal claim against a noncompliant taxpayer’s property when they fail to pay their tax debt. Generally, the IRS will issue a lien only in a situation involving a tax liability in excess of $10,000. The filing of a lien protects the government’s interest in a taxpayer’s real and personal property, including their financial assets, and can have a significant effect on a taxpayer’s credit and, thus, their ability to sell property or secure financing.

Fortunately, a tax lien is not the first …read more

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