When facing the complexities of a federal tax lien, understanding your rights and options is crucial. Murray Moyer offers legal assistance to individuals and businesses in North Carolina grappling with the challenges posed by IRS tax liens.
Our dedicated team of tax attorneys is here to provide the guidance and representation needed to navigate and resolve tax liens effectively.
Understanding Federal Tax Liens
A federal tax lien is the government’s legal claim against your property when you fail to pay a tax debt. The lien protects the government’s interest in all your property, including real estate, personal property, and financial assets.
This lien comes into effect the moment the IRS assesses your tax liability and sends you a notice and demand for payment. The reach of a federal tax lien is extensive, covering all current and future assets until the liability is satisfied or the collection statute expires.
Impact of a Federal Tax Lien
The consequences of a federal tax lien are far-reaching, affecting your ability to sell or use your assets as collateral. The lien:
- Attaches to all your current and future property and rights to property.
- Can significantly harm your credit rating.
- May make it challenging to obtain financing or sell your property.
Navigating the Resolution of Tax Liens
Immediate Actions to Take
If you are faced with a federal tax lien, taking swift action is imperative. The steps you choose can have a significant impact on your financial well-being and the resolution process. Options include:
- Paying the Tax Debt in Full: The quickest way to release a federal tax lien is by paying the tax liability in full.
- Setting up a Payment Plan: Entering into an installment agreement with the IRS may lead to the withdrawal of the lien, under certain conditions.
- Applying for a Discharge of the Lien: In some cases, property may be discharged from the lien, allowing for its sale or refinancing.
- Subordination of the Lien: This does not remove the lien but allows other creditors to move ahead of the IRS, which may make it easier to get a loan or mortgage.
- Withdrawal of the Lien: The IRS may withdraw a lien if it facilitates the collection of the tax or if it’s in the best interest of the taxpayer and the government.
How Murray Moyer Can Assist
At Murray Moyer, our approach is tailored to your unique situation. Our services include:
- Evaluation and Strategy: Assessing your specific circumstances to develop an effective strategy for addressing the tax lien.
- Representation: Negotiating with the IRS on your behalf to pursue the most favorable outcome, whether it’s the withdrawal, discharge, or subordination of the lien.
- Compliance Guidance: Helping you understand and fulfill tax obligations to prevent future liens.
- Legal Support: Providing robust legal representation in dealings with the IRS, ensuring your rights are protected throughout the process.
Choose Murray Moyer for Tax Lien Resolution
Dealing with a federal tax lien can be overwhelming, but you don’t have to face it alone. The experienced tax attorneys at Murray Moyer have the knowledge and expertise to guide you through the resolution process, aiming to mitigate the impact on your life and finances. We are committed to providing personalized, effective solutions to help you resolve your tax liabilities and move forward.
If you’re dealing with a federal tax lien, contact Murray Moyer today. Let us help you take control of your financial future by resolving your tax issues with the IRS.