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WEBEL LAW, PLLC
535 Fifth Avenue, Floor 4
New York, New York 10017
(646) 373-1055
IRS TAX LIENS
WHAT IS A TAX LIEN?
A Tax Lien is the IRS's claim on your property to secure payment of your tax debt, but you get to continue holding and using your
property. Its filing registers the IRS's claim and puts the world on notice
of the IRS's priority in claims to your assets. A Tax Lien makes it difficult to sell or use the property as security for a loan. Congress
created the IRS's power to file Tax Liens to ensure that if your tax debt isn't paid, the IRS gets paid before anyone else
if your property is sold. A Tax Lien is public information available to anyone who makes a simple title search. This alone can decrease the
value of your property because it scares off potential buyers who don't want to purchase a lawsuit. Instead, they'll move
on to the next less risky opportunity. On top of that, Tax Liens show up on your credit report and internet searches.
Failure to satisfy your Tax Lien can potentially lead to the IRS seizing your property and selling it at a public auction to collect taxes
you owe.
If a Tax Lien has yet to be filed, let's discuss your options to stop one from being filed. If one has been filed, we'll focus on
your options to have it removed and your tax debt satisfied.
TO WHAT ASSETS DO TAX LIENS ATTACH?
Tax Liens attach to all property of any kind owned by you anywhere in the world on the date filed and obtained after that date. A Tax Lien is not limited to real estate or other big-ticket items for which you have a deed or title. It includes real estate, vehicles, household furnishings, jewelry, electronics, art, collectibles, etc.
WHEN DOES A TAX LIEN EXPIRE?
A Tax Lien expires only when your tax obligation is satisfied.
No taxpayer should have to pay more than their fair share of taxes. Congress sets the tax rules and rates while the IRS enforces them. That
does not mean the amount of taxes you owe, as the IRS claims, is correct.
We represent taxpayers before the IRS and other taxing authorities to argue the amount of taxes owed and to obtain reasonable
tax relief. Don't delay. Call us today for a confidential consultation with an attorney.
WHAT DOES A TAX LIEN MEAN?
First, a Tax Lien means you'll have difficulty getting credit or a loan.
Second, it makes it very difficult to sell or refinance real
estate. There are options like getting the IRS to Discharge the Tax Lien in exchange for them getting paid with proceeds for the sale or refinancing
of the property. We represent real estate owners in such negotiations with the IRS.
Third, filing a Notice of Federal Tax Lien begins the IRS's activities to seize and sell your property. It even gives them
control over assets that you don't own yet.
Taxpayers are personally liable for paying taxes. A Tax Lien attaches to all property and rights that a taxpayer owns from the day it's
filed to when the tax liability is satisfied, including interests and penalties.
Like mortgages, a Tax Lien is public notice that you owe taxes and that the IRS has a prior
claim to your assets over later filed liens. A Tax Lien doesn't mean that the IRS is going to seize your property, but it
does mean that clear title to the property cannot pass to another until the Tax Lien is discharged by paying
the IRS. That
makes it more difficult to sell the property or use it as collateral for a loan. Still, your equity in the property may provide an
opportunity to work with the IRS to get the Tax Lien discharged.
Eliminating a Tax Lien prevents the additional trouble they bring. Tax Liens are public records, so they can be seen
by anyone who performs certain searches on the internet. People and companies may hold a Tax Lien against you, which may close doors to opportunities.
It's legal for others to discriminate against you because of a Tax Lien.
Tax Liens make it difficult to get a loan. As long as a Tax Lien exists, it will cause trouble. They prevent
the sale or transfer of real advanced personal property. Selling
property encumbered by an IRS Tax Lien can void the sale and may viewed by the IRS as fraud intended to evade or defeat a
tax willfully. Fraud is criminal, not civil, so its ramifications are severe, potentially including jail time. Tread lightly with sound legal
advice after a Tax Lien is recorded by the IRS.
Under certain circumstances, it is possible that some Tax Liens may be removed. Call us to discuss the circumstances behind your
tax obligation. We can help you find relief from the IRS. That relief could include removal of the Tax Lien against you.
WHAT COMES AFTER A TAX LIEN?
After a Tax Lien, the IRS may pursue a Wage Garnishment or Tax Levy.
