Federal Tax Liens can be a significant burden, impacting various aspects of your life. When taxes remain unpaid, the IRS places a lien on all your assets, with real estate being a primary target. This lien gives the IRS the authority to collect taxes through the sale of your assets, covering nearly everything you own.

Such a lien can apply to you personally, your spouse, or your business. If your business is affected, the IRS can seize your accounts receivable. At this stage, your possessions are perilously close to becoming government property.

An IRS lien appears on your credit report, often preventing you from opening checking accounts or securing loans against your assets, such as your home. Banks are reluctant to deal with the complications that arise when the IRS steps in to claim your funds.

With a Federal Tax lien on your record, obtaining a reasonable loan for purchasing a car becomes difficult, potentially leading to exorbitant interest rates between 18-22%. Real estate transactions, whether buying or selling, are also off the table. The implications of an IRS lien are extensive and far-reaching.

For professional guidance on managing and resolving IRS liens, JCB Financial Services is here to help you navigate these challenges and find effective solutions.