Tax Lien and Lien Subordination

Tax Lien and Lien Subordination

When the IRS puts a lien on your assets, it is the equivalent of a public statement that you owe money to the United States government.  The IRS may institute liens on your property once they have done the following: determined that you own unpaid taxes, notified you, and failed to receive payment from you.  After these three events have taken place, you’ll receive a notice in the mail informing you that the IRS has put a lien on your property.

IRS liens cover a wide variety of property, that includes your home, car, money in the bank, and other property you own or have right to such as your retirement or 401K.  Because IRS liens cover so many things, they can be especially frightening.  If you don’t protect your assets, the IRS may take them from you or place a Federal Tax Lien against them. TAP can give you some options on how we can get that lien removed for you.