No tax problem is too big, or too complex for me to handle

You owe taxes and can’t seem to pay your bills. The IRS has placed an IRS lien on your home, your assets, and your bank accounts. You may feel as though there is nothing that can help you resolve this issue. At William McConnaughy, Your Tax Help Pro, I am here to reassure you that there is hope!

If an IRS lien has been filed against you, consult my office as soon as possible. You could be close to a solution without even knowing it! If you are a struggling tax payer and have a federal tax lien filed against you, I can determine whether you are eligible for tax alternatives such as an IRS payment plan or an offer in compromise.

IRS Liens vs. IRS Levies

IRS liens and IRS levies are very different from one another, but it is easy to get the two terms confused or use the terms interchangeably. An IRS lien secures the government’s interest in your property if a tax account is not satisfied on time. An IRS levy, on the other hand, actually refers to the act of the IRS seizing and selling any type of property or assets that you own.

How IRS Liens Work

When your taxes are not paid, the IRS establishes a lien against all of your assets, particularly real estate. This gives the IRS the legal right to collect your taxes from the sale of your assets, which can include just about everything you own. A lien against your company could be especially detrimental for business owners as the lien would seize your accounts receivable. At this point, everything you own and your income is just one short step away from becoming the property of the United States government.

The IRS will initiate a federal tax lien by placing a public notice on your property and your accounts. The notice will alert creditors that the government has a priority over your property and has legal right to take the property when the IRS seizure is necessary to clear your tax account. Liens filed against you by the IRS will show up on your credit report and credit score. Liens will often prevent you from opening a checking account, taking out a loan for a new car or home, or borrowing money.