IRS Tax Lien Serious Outcome

By dhinternational  /  July 22, 2013 / Comments Off on IRS Tax Lien Serious Outcome

IRS Tax Lien Serious OutcomeAn IRS tax lien is a very effective legal means of the government to recover lost revenues in the form of back taxes. It has the power to put a black mark in your credit report. Also, you may not know about it until you get a loan. So how serious is an IRS tax lien?

An IRS tax lien won’t let you loan anything. It also hinders any plans of refinancing your home. And if it is not fixed right away, the interest rate on your credit card would soar up. Your credit is shot to make it simple. Not to mention it would jeopardize your job if it requires a security clearance.

How can an IRS tax lien be lifted? It can only be removed once you have paid your tax debt in full. It is not the same as wage garnishment which can be temporarily lifted. So, in order to begin on repairing your credit, settle your tax debt with the IRS immediately.

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