A tax dispute is every taxpayer’s worst nightmare. The IRS has a well deserved reputation as a ruthless and aggressive government agency, and you don’t have to look very hard to find a taxpayer who has experienced the misery of an IRS controversy firsthand.
And, as if IRS penalties and interest weren’t enough, if your IRS dispute results in a tax lien on your property, you may find your credit rating in shambles and find it all but impossible to secure a loan. Sometimes it seems like the IRS is more interested in ruining lives than in enforcing the law. As a recent WebProNews.com article explains:
A federal tax lien is a hold placed on one’s personal property when that person fails to make a tax payment. It’s a claim held against your property by the US government for neglecting to pay a tax debt.
A lien attaches to all of your assets, including property, securities, and vehicles, as well as to future assets acquired during the duration of the lien itself. After the IRS files a Notice of Federal Tax Lien, it can limit your ability to get credit. The lien also attaches to all business property and to rights to business property, including accounts receivable. If you file for bankruptcy, your tax debt and Notice of Federal Tax Lien may still continue after bankruptcy.
Your credit score is bound to suffer, and as About Money puts it, “you may find yourself with less than ideal opportunities to obtain new credit or to refinance existing credit.”
The IRS won’t update the balance on your lien periodically, so don’t expect it to be updated on your credit report.
If you’re facing an IRS dispute, this is not the news that you wanted to hear. Your situation is bad enough without the possibility of losing your access to credit.
There is good news, however. You’re not powerless against the IRS. We can represent your interests, stop harassing phone calls and letters for the IRS, and negotiate tirelessly for the best possible settlement. If you’re in the midst of an IRS controversy, we can help. Don’t face the IRS by yourself. Call 844-841-9857 to learn more!
