IRS Tax Lien Defined

IRS Tax Lien DefinedThe Internal Revenue Service, IRS in short, has wide powers as far as collecting of tax dues is concerned.  The first course of action they do to recover the back taxes, is to file a lien against a taxpayer who defaults on the tax redemption.

A lien attaches to all assets and properties of the delinquent taxpayer according to the law.  This happens when the federal tax lien is served at once.  This is why the IRS is given the legal rights to the assets, including bank accounts of the property owner to get their money.  Furthermore, the lien is required to be filed in the public records to make it more effective.  The public records consist of the local county office where taxpayers file their tax returns.  The IRS does this in order to secure payments of outstanding tax dues from those who neglect their financial duties as citizens.


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