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In an attempt to collect back taxes, the IRS will place liens on taxpayer assets. By filing a Notice of Federal Tax Lien, the IRS is publicly announcing to the taxpayer's creditors that it has claim to some or all of the taxpayer's property such as a house or automobile. This includes property acquired after the IRS Tax Lien has been filed.
Although technically the assets still belong to and can be used by the taxpayer, the IRS Tax Lien prohibits any sale or withdrawl of equity from those assets by the owner because of the secured interest that the IRS Lien grants.
Even if the taxpayer does not have significant assets, an IRS tax lien will still show up on the taxpayer's credit report. A Federal Tax Lien can make getting a loan, new credit card or signing a lease nearly impossible because of the damage it does to one's credit rating.
If PREFERRED Tax Relief is contacted before the IRS tax lien is filed, we can in most circumstances get a hold from the IRS that the Notice of Federal Tax Lien will not be filed on you pending future resolution.
If there is a tax lien on your home or property, lien subordination can temporarily lift the lien and allow you to refinance or sell. Lien subordination is especially useful when using equity in a property to pay off a negotiated settlement and is a rapid solution option to take advantage of favorable interest rates and market conditions.
Our tax relief experts will find out what the IRS requires and will work diligently on your behalf to maintain holds until lien subordination and release is arranged!
Speak with one of our tax professionals, NOW!
1-800-257-1599
PREFERRED Tax Relief
Protecting Your Tomorrow, Today!
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