Understanding Federal Tax Liens & Seizures
Like any creditor, the IRS wants collateral to secure the debt that you owe them. And they want everything you own as that collateral. They file a lien at the courthouse, on all of your real estate, including your home, and all of your personal property, such as a boat. They are making an all-out effort to collect on back taxes.
If you do not contact the IRS, when receiving the first few payment requests from them, the IRS may file a tax lien. As an experienced tax litigation lawyer, I have been able to be effective in avoiding the filing of a tax lien at this stage of IRS collection efforts. Once the notices are over, your case may be assigned to a Revenue Officer. I have been effective in avoiding a tax lien at this stage, as well. But we will need to act quickly to do this. Otherwise, a lien will be filed.
A tax lien hurts your credit rating, and creates circumstances to where you or your business cannot borrow money. These are prime reasons to avoid a tax lien, if possible.
If you do not make your payments, as you have agreed with the IRS, they may foreclose their lien on your assets. Or, they may foreclose on your assets, because they expect you to use those assets to pay down your tax debt. They hope that you will voluntarily sell your assets, and give them the proceeds. If you do not comply, they have been known to foreclose on your real property. I defend you, even if the IRS has the Justice Department file a lawsuit against you and your real estate.
It is important to know that the IRS can foreclose on your homestead. They seldom do this, as a matter of policy. However, they do it on occasion. It is my job to keep your homestead from being foreclosed, as I have done in the past for my clients.
The IRS may seize that boat, and sell it. All you can really do about this is to give it to them, or find a way to pay your tax liability in full. I work to arrange for my clients to be able to hold onto their personal property.
Representation From a Skilled Austin Tax Attorney
I try to head off the IRS before they file a lien; however, where I can usually do you some good is preventing foreclosure and seizure, as I have in the past for many clients. Need to sell a property? I may be able to get you a partial release of the tax lien, so that you can do so. When your taxes are paid, I make sure that the tax lien is recognized as fully released, which will help restore your credit.
I have decades of successful experience representing people like you before the IRS Collections Division. The quality of my work as a tax attorney is well recognized by my clients. Call today at 512-457.1177 to discuss your case with me and schedule an appointment. Based in Austin, I represent clients throughout Central Texas.