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IRS Tax Liens

A federal tax lien is can have an extremely negative impact on a
taxpayer's credit when filed by the Internal Revenue Service
(IRS).

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IRS Tax Liens

A federal tax lien is can have an extremely negative impact on a taxpayer's credit when filed by the Internal Revenue Service (IRS). If the taxpayer owes the IRS over $10,000 on personal income tax debt, a federal tax lien can be filed by the IRS. A federal tax lien is the government claim against all assets that a taxpayer might own. The IRS can also file federal tax liens against a business if the business tax debt is over $25,000. A federal tax lien is filed with the local county making it a public record, available to anyone. Once the federal tax lien is filed, it can last up to 10 years from the date of the last assessment for up to one tax year by the IRS, with certain exceptions extending to a 10 year period.


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How does the tax lien affect you? If you owe individual taxes, it can negatively impact your credit score which can lead to difficulty applying for future credit, higher interest on future loans such as purchase of a vehicle and hinder your ability to purchase, sell or refinance your property. If a tax lien is filed on your business, it can negatively impact your business by making it impossible to obtain business loans and lines of credit as well as discouraging creditors/vendors from working with you. Tax liens can further impact your business to the point of closure.

There are some options available to have a tax lien released.
Some of the options include:

  • Pay the full balance of tax due
  • Offer In Compromise settlement
  • Offer In Compromise settlement
  • Direct Debit Installment Agreement if the assessed balance is less than $25,000.