Tips to Stop the IRS

Why do I have an IRS tax lien?

A: When IRS believes that someone’s liability will not be paid in the near future, IRS files Form 668(Y)(c).

This form is a Notice of Federal Tax Lien, filed against that person. This is a required step in IRS procedure, especially when there is tax liability exceeding $50,000.

The lien is filed against “Taxpayer” in order to protect the government's ability to collect. By its language, the tax lien secures IRS's debt against Taxpayer’s assets, for collection after events such as:

·        He tries to dispose of or borrow against an asset

·        He defaults an IRS installment agreement

·        He files for bankruptcy