Tax liens put your assets in jeopardy. Removing them requires working alongside the Internal Revenue Service and clearing any debt you have with them. Let's take a look at the tax lien, what happens when you have one, and your options for getting rid of it. Overview...
Tax deeds and tax liens are both tied to unpaid taxes. While they are grouped in the same category, each works differently from the other. Here is a quick look at the differences between the two. What does a tax lien mean? Tax liens are legal claims concerning unpaid...
For many small businesses, debt is an inevitable part of operations. Not many people have the capital to make purchases in cash or pay their bills simultaneously. However, accumulated debt and unpaid taxes can have a devastating outcome for a business of any...
If you fall behind on your taxes, you may be subjected to a tax lien from the IRS, which, essentially, is a legal claim on your property. A tax lien, while no longer appearing on credit reports, still appears to creditors. That means a lien could prevent you...
If you do not pay your Commonwealth taxes, the collector will file a Notice of Massachusetts Tax Lien against all of your real and personal property. This may prevent the sale or transfer of the property and it might potentially harm your credit score. How do tax...
A tax lien is a lawful declaration on an individual's property or a business. If you owe taxes, a lien could be placed on your property to stand in as a guarantee that you will pay back the owed amount. Let's explore the different categories of tax liens. Property tax...
Finding out that a tax lien has been filed against your property is never something you want to hear. According to the IRS, a tax lien is automatically put into place if you do not pay your tax debt after receiving your first bill from the IRS. A Notice of Federal Tax...
A federal tax lien is the government's legal claim against a property when the tax debt is not paid. If the tax lien is not taken care of, a tax levy could come next. This means the property could be taken away in the form of wage garnishments, bank accounts...
Did you know that you might be denied a passport application or your current passport revoked if you have seriously delinquent tax debt? With the current law, the Internal Revenue Service (IRS) has the authority to certify any delinquent tax debt to the State...
What could happen if you don't pay your taxes? Payment of taxes is not a request, rather, it is a compulsive duty that must be adhered to. The IRS can be quite punitive if taxes due to the revenue collector are not remitted when they fall due. One way of ensuring...
