The IRS Just Notified Me of an IRS Lien, in Miami – What is It and How Does It Work?
It is an unfortunate development to receive a notice from the Internal Revenue Service in the mailbox of your Miami home. Most likely it got your attention. If it did, then it worked as the IRS intended. Did it give you enough anxiety and a strong enough nudge to do something about it? Again, that is what it was designed to do. Now that the IRS has your attention, what will you do to address it? Hopefully not ignoring it! Remember the IRS does not just go away.
It is highly discouraged to go it alone and contacting the IRS yourself. When you contact the IRS directly, you are doing so without proper representation. It is extremely recommended you seek the consultation of a licensed tax professional, such as Tax Relief Systems, right away.
The premier tax relief company in Florida and Miami is Tax Relief Systems. We focus on helping taxpayers avoid and remove IRS tax liens and other tax-related issues.
The events of 2020 have made life tough on everyone and paying bills more difficult. Add a tax burden to the mix and it could be a recipe for disaster. The last thing you want to receive is a Notice of Federal Tax Lien issued by the IRS. Federal tax liens are extraordinarily common, affecting countless American households every year. They are one of the scariest tools the IRS has in its toolbox and are seldom explained properly. Below you can find out what an IRS lien is, why it happens, and what can be done to get it out of your life.
What is an IRS Lien? – Miami
First off, understanding a federal tax lien is critical. The IRS has many tools in its belt to recover tax debt and the tax lien is just one of them. A tax lien is a claim against your property by the Internal Revenue Service for unpaid tax debt. A tax lien is the notice of a claim on your property including your home, car, furniture, financial accounts, etc. An IRS Levy is different. A levy is a notice that they are taking your property.
After an IRS Lien is Filed on Your Miami Property
You received notice regarding a tax lien on your property by the IRS. Now, what happens?
If you feel the filing of the IRS lien has been made in error, then an appeal may be an option. Consult with a certified tax professional before attempting an appeal. You only get one shot at an appeal.
If there is no mistake and an IRS lien is filed, then your creditors will be notified of the claim on your property. The lien does not usually appear on your credit, but the notification of the claim will negatively affect your creditworthiness.
IRS liens typically expire in 10 years, but in some circumstances, they can be extended to your Miami area home.
What Options Do You Have in Miami?
The best option is to avoid an IRS Lien by developing a workable payment strategy. Ultimately, it is best to develop a strategy to avoid the federal tax lien filing in the first place. However, if this is not possible, and the lien has been filed, there are ways to minimize the overall impact that it can have on your life.
If you cannot pay the tax bill all in one lump sum, you have several options available.
- Set up an IRS payment plan
- Ask for an Offer in Compromise
- File an Appeal
These are just some of the resolution strategies that an expert Miami tax professional from Tax Relief Systems can help you with. We will assist you in deciding which option makes sense and obtain a withdrawal of the lien.
The first thing we look to achieve in a consultation is to become more familiar with your situation. The more we know about your situation the better we can understand which option is best.
Tax liens can cause a serious interruption to your day-to-day life. A quick resolution to the issue should be of top priority. Free yourself from the burden of your tax debt problems. Start your resolution today.
Contact the Tax Relief Systems team in Miami at (424)264-5854 or complete our secure online form.