Question by  clambait112 (25)

What are the basics of IRS leins?

I'm worried about my tax debt.


Answer by  Kurt (4579)

The IRS has the power to put a lien on your checking account ( take funds out directly ) or put a garnishment on your wages to satisfy the debt.


Answer by  mpartin (1600)

If you owe the IRS money then they can place a lien on your property, home, cars or anything else that you personally own. Then if you were to sell that item the lien would be paid first before anything else. And if you were to inherit money or receive a financial gift, the lien would still be paid first.


Answer by  LegalGirl (183)

This is a fairly loaded question, Laws and statues vary on a place by place basis. You'll need to contact your local state legislator or municipal court to verify the allowances in place per county. In addition, laws change year by year, so make sure you keep up to date.


Answer by  Att4372 (1704)

If you ignore an IRS letter, you get letters at 30 and 60 days. At 90 days, get a letter of delinquency. If you fail to make any responses, they can get a judgement and a lien. They cannot seize your home or tools for work. If you don't make payments, they can sieze your other property.


Answer by  John (9008)

If a tax debt is not paid, and if the taxpayer does not enter into an installment agreement or offer in compromise, then the IRS can place a lien against them. This is basically a notation on your credit report, but it hurts your credit score. You are warned first.

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