How to Remove a Tax Lien in Pennsylvania
Having the IRS place a lien on your assets can be a frightening and stressful experience. A tax lien can make it more difficult to take out a loan, sell your property, or refinance your mortgage.
If you owe more than $10,000 in outstanding taxes, the IRS may place a lien on your assets to compel you to pay your taxes. A lien attaches to all your assets, including your home, car, and even your business assets. State and local governments can also file tax liens. A lien protects the government’s interests as you repay your loan. During the time that the lien exists, the government will receive priority over all other creditors that may file subsequent liens.
While the obvious solution to remove a tax lien may be to pay your tax bill, in some cases this may not be possible, or you may be concerned that your tax bill is incorrect. It may even be possible to arrange to pay less than the full amount owed and still have the lien removed. An experienced tax attorney can help you remove a tax lien before it endangers your financial future.
What Are the Consequences of a Tax Lien?
A tax lien can have many negative consequences, including:
Your credit may suffer - Although tax liens no longer appear on credit reports, they can still impact your credit. Because a tax lien is a matter of public record, lenders can access those records and may deny you credit based on a lien.
You may not be able to sell or refinance your property - A tax lien can make it all but impossible to sell or refinance a property against which a lien is placed.
Your business could be impacted – A federal tax lien can attach to your business assets, including accounts receivable.
You may have a tax levy placed on your assets – If you are unable or refuse to pay your taxes, the government may seize and sell your property to fulfill your tax obligation. Levies placed against individuals and businesses can have a disruptive and often devastating impact. A knowledgeable tax attorney can help you resolve your tax issues before a levy is filed against you.
Scaringi Law Can Help Resolve Your Tax Issues
If you are facing a tax lien or levy, avoiding the issue will only make the problem worse. However, it isn’t necessary for you to face your tax problems alone.
Our attorneys at Scaringi Law can review your financial records and help you implement a plan to solve your tax problems. We can help you to negotiate with the IRS or the Pennsylvania Department of Revenue to pay off your outstanding taxes in installments, and often it is possible to negotiate a reduced amount. You can rely on our deep knowledge of this complex area of law at the federal, state, and local levels. Whatever tax issue you are facing, our lawyers can help resolve the problem so that you can move on with your life.
If you need help resolving a tax lien, contact us online or call (717) 775-7195 to resolve the issue today.