Received a notice from the Internal Revenue Service (IRS) threatening to file a lien? Or, has the IRS already filed the lien and you are concerned how that affects your ability to sell some of your assets?
If you are in the position of the IRS sending you notices about liens, have you been not responding to prior collection efforts on taxes owned to the IRS? Do you perhaps have unfiled tax returns?
The Internal Revenue Code Section 6321 authorizes the filing of a lien on a taxpayer to protect the government's interest against 3rd parties, if the IRS is owed more than $10,000. The government then steps into the shoes of the taxpayer with the limit to what is owed to the government. Even with the filed lien, you can still sell your home, but your lender and the IRS will be paid before you receive any proceeds. You can also still make offers to collections, set up a payment plan, and submit an offer-in-compromise.
To carefully maneuver through this tax resolution process we suggest contacting an Enrolled Agent such as Marcelino Dodge, EA with Cash Tracks Financial Inc.
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