WHAT TO DO IF THE IRS PUTS A LIEN ON YOUR PROPERTY
If the IRS has placed a lien on your property, it means that you owe unpaid taxes, and the IRS has a legal claim against your property. A lien can impact your credit score, and it may make it difficult to sell or refinance your property.
Here are some steps you can take if the IRS has placed a lien on your property:
Review the lien: You should review the lien to ensure that the amount owed is accurate. If you believe there is an error, you can dispute the lien with the IRS.
Make a payment arrangement: The IRS may be willing to work with you to set up a payment arrangement, such as an installment plan, to pay off the amount owed over time. This can help you avoid further collection action.
Offer in compromise: If you are unable to pay the full amount owed, you may be able to negotiate an offer in compromise with the IRS. This is an agreement to settle the tax debt for less than the full amount owed.
Discharge of property: In some cases, you may be able to get a discharge of property from the lien. This means that the IRS will release the lien on a specific property so that you can sell or refinance it.
Seek professional advice: It may be beneficial to seek the advice of a tax professional, such as a tax attorney or accountant, to help you navigate the process and find the best solution for your situation.
