Tax Lawyer Las Vegas
Liens are one method creditors use to collect money owed to them. A Tax liens allows certain creditors to claim a partial interest in your title to your property. A creditor with a lien has taken away part of an owner’s right to their property. The owner has lost “clear title” to their property. Instead, the property is now “subject to the lien,” meaning the owner can’t sell or borrow against the property without permission from the lienholder.
A tax lien is filed with the County Recorder. Tax Liens won’t disappear by taking the property out of the owner’s name. Any strategies you will likely develop on your own will probably not work and may even subject you to criminal prosecution. So, solving a tax problem requires professional help.
While CPAs, Enrolled Agents, and tax professionals encounter tax debt issues infrequently, at Las Vegas Debt Settlement, we help people with debt problems every day, including those with large tax debt. Our sole focus is on finding solutions to your tax debt, regardless of its origin. You can trust our expertise to guide you through this challenging situation.
Unlike other creditors, the IRS and other tax authorities can file liens that impact all your property. Tax liens are particularly strong because they affect not only real estate but also other assets you own, even assets ordinarily protected under state and federal exemptions laws. Tax liens can even result in you losing your property through foreclosure, attachment, or repossession. A tax liens covers everything you own: your home, your vehicle, money in your bank accounts, and even your retirement savings and social security benefits.
Often, a tax lien is a huge surprise. Someone may have owed back taxes for years, but the IRS only has sent out the occasional letter saying a balance is owed. So many people who were initially scared of the IRS come to believe that the IRS is all bark and no bite. Lulled by the IRS’s inaction to collect, they optimistically believe that the IRS has ‘bigger fish to fry’, such as high-profile tax evaders or large corporations, or won’t come after them. Then, one day, out of the blue, the hammer hits, and you are in big trouble. And then you end up ‘learning the hard way’ about tax debt.
Tax Liens
It is Important to Take Tax Letters Seriously!
Government tax authorities typically follow the required procedures when implementing liens, but they are not infallible. It’s crucial for the taxpayer to take this debt seriously, as the consequences of inaction can be severe. The lack of immediate threats from the government can lead individuals to underestimate the seriousness of their tax debt. However, the reality is that the authorities can seize your property, often without warning, if you fail to pay.
If you discover a tax lien, it is an emergency. Unfortunately, a tax liens lets the government take your property for your tax debt and pay any interest and penalties you owe. Often, the interests and penalties cost more than the underlying tax debt. However, the Las Vegas Debt Settlement team can immediately help solve this overwhelming problem. We will work with you to negotiate with the IRS, set up a payment plan, or explore other options to resolve your tax debt. But be realistic. There aren’t many situations where someone can pay ‘pennies of the dollar’ to settle tax debts. The TV ads you used to see were pulled off the air because they were false.
Remember, there are solutions to resolve tax debt, but it’s crucial to take action sooner rather than later. Once the government records a tax liens, the best result may not be possible. In Nevada, Las Vegas Debt Settlement is here to help you navigate this process and find the best possible resolution for your tax debt.
