About IRS tax liens against real estate and personal property.
Most taxpayers know that the IRS can put a lien on real and personal property to collect unpaid tax debt, but few understand what happens after the lien is created and encumbers property. Here, we’ll discuss the basics of a Federal Tax Lien, including how they’re created and what happens after they encumber real and …
Federal Tax Liens: When They’re Created and Released Read More »
A lien is a charge or claim against a property for the payment of a debt. A creditor’s lien does not, by itself, transfer property ownership to the creditor. There must be a levy or seizure first to force a sale. What Is A Tax Lien? When it comes to the government’s claim or charge …
General Federal Tax Liens: When They Arise And How They Affect The Taxpayer Read More »
Whenever a debtor cannot pay a debt, the creditor may secure payment through a claim or charge on the debtor’s property. That claim or charge on a property is called a lien. However, by itself, the lien does not transfer the debtor’s property to the creditor. Rather, the lien gives the creditor the ability to perform …
Nothing lasts forever. The same is true with tax liens. A general tax lien exists when the assessment is made. It continues until the taxpayer satisfies the assessed amount of tax liability, or it becomes unenforceable by the lapse of time. Duration of General Tax Liens As stated above, an IRS tax lien becomes unenforceable …
