When your taxes are not paid, the IRS establishes a lien against you. This includes all of your assets, especially real estate. This gives the IRS the legal right to collect taxes from the sale of your assets, which includes just about everything you own. As a premier tax consultant, we want to see each of our clients avoid this process by being proactive with their St. Charles liens.
The lien can be against you, your spouse, or your company. An IRS lien against your St. Charles company will seize your accounts receivable. At this point, everything you own is just one short step away from becoming the property of the United States Government. St. Charles liens filed against you also show up on your credit report and often prevent you from opening a checking account or borrowing against any assets, like your home. Banks don’t want the extra work when the IRS comes in to take your money.
With a Federal Tax lien on your record, you can’t get a reasonable loan to purchase a car. Think about paying 18-22% interest on a car that is already a burden on your budget. You definitely cannot buy or sell any real estate. The list is endless. Our team understands that Federal Tax liens can make your life miserable! JSH accountants are here to help you resolve your St. Charles tax problems and put an end to the misery that the IRS has put you through.