You are not planning on selling your house any time soon and, right now, the IRS lien on your Oklahoma property doesn’t seem that significant. Your day-to-day finances are not impacted by the lien the IRS has filed. Why then should you worry about the possible future impact of a lien now?
If You Wait to Worry About an IRS Tax Lien, It May Be Too Late
While the IRS lien may not be causing you any headaches right now, it is important to face your tax problems and to request a lien withdrawal on your Oklahoma property when your tax situation has been satisfied. In order to understand why it is important to request a lien withdrawal on Oklahoma property, let’s consider what would happen if the lien stayed on your property. A lien could:
- Limit your refinancing options. If you want to refinance your home, banks or other lending institutions may be unwilling to do so if there is a lien on the property. They may consider their interest in your property too risky and refuse to lend you money.
- Stay on your credit history for seven years. This could limit your ability to borrow money for things other than your home—such as cars, credit cards, etc. It could also result in significantly higher interest rates on the money you are able to borrow.
- Mean that you do not keep the money when you sell your home. Before you are able to keep any profits, any outstanding taxes would be paid to the IRS.
For these reasons, it is important to take tax liens seriously and to seek a lien withdrawal as soon as possible.
Call an Oklahoma Tax Lien Lawyer for More Information
For more information about your legal rights and about resolving your tax dispute, please contact an experienced Oklahoma tax lien attorney today at 800.721.7054 to schedule an initial consultation and please read a copy of our book, The Ultimate Survival Guide for IRS Problems, which is available for FREE on this website.