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When you do not pay your taxes, the IRS will establish a lien against your assets. This means that that the IRS has the legal right to collect taxes from the sale of nearly everything you own, including your property.
A lien can be against you, your spouse, or your business. When a lien is placed on your business, accounts receivables are seized. Liens filed against you also appear on your credit report and can prevent you from opening a checking account or borrowing against assets like your home. You will not be able to get a reasonable rate on a car loan and you won’t be able to buy or sell any real estate.
A Federal tax lien on your record will result in an endless list of problems. Contact J&B Tax and Accounting with the form below to find out how to resolve your tax lien problems.