Keith Jones, CPA Newsletter
What is Tax Lien
Tax liens are public legal notices that state that a party-the IRS-has a formal claim against the party named in the lien. It covers a great array of properties, including the money in your bank, your car, your home, your 401K plan, and more. As these liens cover so many types of assets, they are no small matter.
A lien also indicates to the public that the IRS needs to be paid first. If you plan to sell a certain asset to a third party, you will find it extremely difficult to do so, as you are now recorded as a credit risk. Hence, it is pertinent that you take swift action to avoid liens. One of the quickest ways to get liens lifted is to pay what you owe.
If you cannot afford to pay the whole amount in one go, a viable alternative is to offer the IRS a settlement amount. That amount will be lower than the total tax liability owed.
Contact Us Today
For assistance with tax lien matters or any other tax-related concerns, don't hesitate to reach out to Keith Jones, CPA, and TheCPATaxProblemSolver. We are here to help you regain financial stability and peace of mind.
Stay tuned for future editions of TheCPATaxProblemSolver, where we will continue to provide invaluable insights and advice on resolving various tax challenges.
Wishing you success in your tax-related endeavors!
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