Internal Revenue Service may use liens to make up tax debt
Gathering all of the necessary documentation to file income taxes every year can seem like a daunting task. Coming to the realization that you owe more to the Internal Revenue Service than originally thought makes the situation even more onerous, especially if the tax...Tax liens can have damaging effect on credit scores
When the Internal Revenue Service believes that an individual failed to meet his or her full tax burden, the agency may do whatever it takes to recover funds. As such, the IRS may attach a lien to personal property, which means that they can claim it if a person fails...Taxpayers often left with few protections when dealing with liens
When local governments accuse someone of failing to pay property tax bills, a lien may be attached to the property in question. This means that the government can seize the property if the owner fails to pay the outstanding taxes or negotiate a repayment plan. This...What happens when a federal tax lien is attached to property?
Seeing a notice from the Internal Revenue Service arrive in the mail isn’t likely to be a welcome sight. When federal officials claim that taxpayers have failed to pay their full tax liabilities, a lien may be attached to their personal property. This...What can happen after a property tax lien is issued?
When local tax officials believe someone has failed to pay a property tax bill, they might issue a lien. At this point, individuals must work to resolve their debt, or they could have their property repossessed. Obviously, this can create an entirely different set of...Make sure to notify the IRS if you are moving
If you are planning on moving your business to a new address, make sure to file the appropriate paperwork with the Internal Revenue Service. In one recent case, a taxpayer’s failure to properly notify the IRS of an address change barred it from challenging a tax...Minnesota Senate’s sales tax bill passes with slim vote
Owning and operating a business involves so much more than a simple exchange of money for goods. One of the complex parts of business transactions involves collecting sales tax imposed by state and local governments.For business owners, it may feel like tax collection...Tax lien forces Warwick to say a little prayer, files bankruptcy
Responding to a tax notice is a decision that shouldn’t be made lightly. Why? Tax liens can have an effect on a taxpayer’s future, affecting credit, homes sales and overall finances. Dionne Warwick said that a million-dollar tax lien was a prominent factor...Google’s $300k tax lien an “error,” says local tax official
Many of us in Minnesota use Google on a daily basis and news of the company reporting billions of dollars in revenue is nothing new. But after hearing the news that a $300,000 tax lien has been placed on the company, something just doesn’t add up. A tax lien can...
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