Tax liens are daunting and overwhelming for many people. Fortunately, Tax Crisis Institute offers tax lien help and tax lien services of Los Angeles! For more than 30 years, Tax Crisis Institute has helped the citizens of Los Angeles get IRS tax lien help. This family owned and operated business takes a personalized approach to each client’s case. By working with Tax Crisis Institute you will gain a better understanding of your tax lien circumstances, the consequences having a tax lien can bring, and how to get your tax lien removed. Do not delay in your tax lien case, and contact us today for tax lien help and services in Los Angeles, California! (818) 640-5316.
What Is A Tax Lien?
According to the IRS, “a federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government’s interest in all your property, including real estate, personal property, and financial assets.”
A federal tax lien exists once the Internal Revenue Service (IRS) puts your balance due on the books and sends you a bill that explains how much you owe, but you neglect or refuse to fully pay the debt on time.
Various government agencies may request tax liens in the state of California. Like a federal tax lien, these state tax liens are the government’s legal claim against your property when you fail or neglect to pay a tax debt.
Before the government issues a tax lien, they will send you a bill telling you exactly how much money you owe and when it is due. This document is known as the “Notice and Demand for Payment.” If you receive this document and still do not pay what you owe in full or on time, the IRS or state agency will file a public document called a “Notice of Federal/State Tax Lien.” This is the document that alerts creditors that the government has imposed a lien on your property.
If you have received this notice, it’s time to contact Tax Crisis Institute in Los Angeles, California today. We offer tax lien help and IRS tax lien help, and will help you navigate your way through your tax lien. Help is only a phone call away at (818) 640-5316!
How Does A Tax Lien Impact Someone?
Tax liens negatively impact a person’s financial well-being and status. The first way they impact someone is that the tax lien attaches itself to every single one of the person’s assets. This means any property, vehicles, homes, securities, or savings you have can be confiscated and taken by the government. Any additional assets you gain during your tax lien can also be confiscated!
The second way tax liens impact a person is through their credit. Once the IRS or state government agency issues a “Notice of a Tax Lien,” it becomes almost impossible to open up any type of credit.
Third, the person’s businesses and all of their business property and business accounts can be confiscated by the government.
Finally, a tax lien and the “Notice of a Tax Lien” can follow the person, even if they file for bankruptcy.
If you’ve received a Notice of a Tax Lien, you need to contact Tax Crisis Institute in Los Angeles today. Our Los Angeles tax lien help and services is the best in the business. We are confident we can offer you help with your IRS tax lien. Reach us today at (818) 640-5316!
How Can You Avoid a Tax Lien?
In order to avoid a federal or state tax lien, simply file and pay your taxes on time and in full. If you cannot pay your taxes in full, or know that you will not make the filing deadline, you should contact the IRS and work with them. The IRS offers payment options in order to help people settle their tax debts over time.
If you do not pay your taxes or file your taxes on time, it is not wise to ignore the letters of correspondence from the IRS. Unfortunately, this is a mistake that many people make. It is in your best interest to work with the IRS to create a payment plan that will eventually settle your tax debt. The IRS is willing to work with those who are willing to cooperate and show responsibility for their taxes.
If you’ve found yourself under and IRS or state government tax lien, contact Tax Crisis Institute in Los Angeles today. Our team of experts can help you walk through your tax lien. You can trust Tax Crisis Institute with your IRS tax lien or California tax lien struggles. Reach us today at (818) 640-5316!
How Do I Get Rid of a Tax Lien?
The easiest way to get rid of your tax lien is to pay the money that you owe the government. Once you’ve completely paid back your tax debt, the IRS will have to release your lien within 30 days.
Sometimes, certain conditions apply and are in the best interest of both the government and the taxpayer. These conditions may provide options for reducing the impact of the tax lien. They include:
- Discharge of property – A discharge removes the lien from a specific property. There are several Internal Revenue Code (IRC) provisions that determine eligibility.
- Subordination – Subordination does not remove the lien, but it allows other creditors to move ahead of the IRS, which can make it easier to get a loan or mortgage.
- Withdrawal – A withdrawal removes the public Notice of Federal Tax Lien and assures that the IRS is not competing with other creditors for your property. You are, however, still responsible for the amount owed.
A key tool in getting rid of a Notice of Federal Tax Lien is an Offer in Compromise. Acceptance of an Offer in Compromise removes all federal tax liens, which is unprecedented. The IRS has not done anything like this for over 30 years. Tax Crisis Institute in Los Angeles can help you explore all of your tax lien options. Our goal is to help each customer regain their financial peace and stability. Call us today at (818) 640-5316!
Tax Crisis Institute Can Help You With Tax Lien Removal Services
If you live in Los Angeles, California and find yourself struggling with a tax lien, it’s time to contact Tax Crisis Institute today. Our IRS tax lien help is some of the best in the business. Our family owned and operated business seeks to help clients navigate the waters of their tax troubles, and hopes to help clients regain financial stability and peace. Contact us today at (818) 640-5316!