Definitions for "Federal tax lien"
A lien against all assets of a delinquent taxpayer.
an obligation to the United States government as a result of nonpayment of federal income taxes.
A Federal Tax Lien is a public record filed by the IRS proclaiming that a taxpayer owes taxes. The Tax Lien is filed with the County Clerk in the county from which the taxpayer or the business operates. A Lien can cause significant financial challenges, for example, difficulty in obtaining credit. There are a variety of options in getting a lien released. It is important to act on a Federal Tax Lien in order to prevent further action by the IRS. Further action could include seizure of business and personal property, levies on bank accounts or wages (taking wages or money in savings and applying it toward the taxes owed). There are better ways to come to an agreement with the IRS without compromising livelihood or dignity. Equity Search can help.