Federal Tax Liens
The Internal Revenue Service imposes federal tax liens as a method to reinforce collection of unsettled tax debts. Most of the time, the IRS imposes this extreme method of collection as a last resort. Once a person ignores his/her federal taxes, his/her back taxes piles up. When this happens, the people at the Internal Revenue Service start to send out notices in forms of letters and phone calls to remind the person of his/her tax liabilities.
If a person fails to settle his/her federal taxes, the IRS can impose a tax lien on the person’s properties and assets. When the government files an IRS tax lien, it simply means that the agency takes over the ownership of a person’s property until the tax debt is settled. Technically, the Internal Revenue Service gives the person a maximum of ten days after the tax lien has been filed to make the necessary payments. Given that the allowance of ten days has been reached and the person hasn’t complied with the necessary payments, he/she can apply for a hearing.
Although, the person is given the choice to argue his/her case during the hearing, he/she might find it difficult to obtain a fair settlement. If a person has been served a federal tax lien notice of hearing, it is advisable for him/her to seek professional help immediately. It is vital that the person gets represented by the right people in cases such as these in order to prevent further losses.
The people at Premier Tax Resolutions are capable of providing people the proper representation in court in cases such as these. The Premier Tax Resolutions firm has more than three decades of experience resolving cases involving various tax problems including federal tax liens. Over the years, the firm has rendered services to a long list of satisfied clients.
The people at Premier Tax Resolutions will work to settle their client’s tax problems with the IRS by going through a process called an Offer in Compromise. An Offer in Compromise is an agreement between the client and the Internal Revenue Service. This will provide the client with a more convenient and realistic way of paying his/her tax debts.