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When you do not pay your taxes, the IRS will establish a lien against your assets. This means that that the IRS has the legal right to collect taxes from the sale of nearly everything you own, including your property.
A lien can be against you, your spouse, or your business. When a lien is placed on your business, accounts receivables are seized. Liens filed against you also appear on your credit report and can prevent you from opening a checking account or borrowing against assets like your home. You will not be able to get a reasonable rate on a car loan and you won’t be able to buy or sell any real estate.
A Federal tax lien on your record will result in an endless list of problems. Contact JB Tax and Bookkeeping with the form below to find out how to resolve your tax lien problems.