Tax Lien: What is it and how do I stop one?
A tax lien is a claim the government makes against your property when you fail to pay taxes. The government has the right to place a lien on any assets you own until back taxes are paid. It's possible for liens to attach to real estate, cars, and even bank accounts.
The process of having a tax lien removed starts with getting caught up on all unpaid taxes, including interest and penalties. Taxpayers can also take advantage of IRS payment plans or offers in compromise which allow them to settle their debt for less than what they actually owe. Once taxpayers have taken care of the delinquent balance, they can then contact the IRS and request that their lien be released. In some cases, taxpayers may be able to work out an agreement with creditors through negotiation or bankruptcy proceedings without having to pay off the entire balance owed.
The Law Offices of Omar Zambrano has helped thousands of people and businesses on the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706