Protecting Yourself from IRS Seizures

After a tax return is filed and the tax isn’t paid after a demand for payment has been made, a federal tax lien usually arises. The IRS will file a Notice of Federal Tax Lien to protect the government’s right of priority against other parties who are owed money by the same person. This puts other creditors on notice about the IRS’s claim.

By law the lien is in favor of the United States and is upon all property and rights to property of the person with the unpaid tax. The lien gives authority to the IRS to seize any proceeds from sales of real estate owned by the delinquent taxpayer.

The best way in protecting yourself from IRS seizures is to pay off your tax debt as quickly as possible. If the amount is too large to pay off all at once and a lien has already been filed, you may want to consider hiring a tax professional to evaluate your case in order to determine the best course of action. This will help to minimize the IRS’s actions and ensure that deadlines are met for initiating applicable appeals.

At Spectrum Tax Relief, our team knows the strategies used to prevent or delay the IRS from seizing personal and business assets. Contact us today.