Tax Liens: Tactics The Irs Uses To Recoup Tax Debt

Dealing with the IRS can be one of the most difficult times in anyones life

. What's frightening about the situation are the endless letters you receive in the mail threatening your home and well being. Occasionally they come in single envelopes. Most of the time they overflow out of your mailbox.

The IRS is coming hard after your property because it is a good investment in this economy. Since property is a tangible asset it provides the cornerstone for wealth accumulation for most successful investors waiting on foreclosed hopes. They are waiting around like buzzards for your house to be taken and buy it at well below its market value. In today's high foreclosure rate it is up to you to educate and prepare yourself.

If the IRS places a tax lien on your home, it is a way to ensure that they will be paid for the debt owed to them. What most people dont realize is that if a tax lien has been placed on any of your real or personal property, it will appear in your credit report. This tax lien will stay on your credit report for seven years from the date of paying the lien. If the tax lien has not been paid, it will remain for a minimum period of fifteen years; and in some cases it may remain forever. The credit reports Equifax and Trans-Union show unpaid tax liens forever while Experian shows it for fifteen years. Knowing how the IRS will go about recouping your tax debt, be it tax lien or other method, will help you avoid getting hit on your credit report and in your bank account.

by: astinchfield

POST COMMENT

How Can Debt Settlement Help You? Thinking Of Booking Hot-lanta Luxury Motels? Read About These Hints On How To Purchase The Best Hote Trying To Find Atlanta Discounted Hotels? Use These Secrets On How To Purchase The Best Packages A Breakdown Of Personal Debt Importance of calculating your debt to income ratio Get Out Of Debt Quickly Is Primary Objective Of Everyone Choosing the Right Debt Settlement Company Guidelines on How to Purchase and Install Combi Boilers Why Purchase Grille Guards? A Short History Of The National Debt How Debt Settlement Can Help You Debt and Personal Debt Problem in America Debt Settlement Solutions: Why You Shouldn't Negotiate Your Own Settlement