The Silent Killer You may have heard of the IRS Tax Levy. It's a vicious tool the IRS uses to seize money and assets. Tax Liens don't transfer your property to the IRS, but they certainly mess up your credit. Few people know how serious the dangers of a Tax Lien are. Educate yourself. Don't wind up with a ruined credit report and no assets to your name.
Goodbye, Credit! The most common Lien is the one placed on your credit. This is the kiss of death. Your debt with the IRS and your failure to pay it is now public knowledge! Now, it's impossible to take out a loan, get a car, open a lease, or do anything else credit related.
The Clock's Ticking: Maybe your credit is already shot? So you kept ignoring the IRS because you think a Lien can't hurt you. Think again! The longer you go without paying your IRS debt the closer the IRS gets to turning a Lien into a Seizure. So if you don't settle your IRS Debt, get ready to ride the bus! As a former IRS Hit-man I know for a fact; none of your assets are safe if the IRS does not get their money.
30 Day Deadline: A Tax Lien can be removed. The IRS must notify you that they've filed a Lien within five days after it's filed. You then have 30 Days from the day after the 5-day period expires to file an Administrative Appeal. But it won't be easy. My advice would be to hire a certified tax professional with an excellent track record for winning your fight against the IRS. With help you can avoid having bad credit. You can also avoid being homeless!
Be Prepared: The IRS will not remove a Lien without a fight. They gave you notice, you ignored. Now they want to make you pay. But you don't have to take it! Now you know how to fight back.
Wednesday, December 23, 2009
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1 comments:
A good IRS Enrolled Agent should be able to guide you through the process without charging you a big upfront fee. You don't need to just turn over your case to an attorney, the process isn't that complicated, you can save a lot of money by just paying for a little guidence on how to work with the IRS collections.
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