taxlawchannel.squarespace.com IRS “Fresh Start” for Tax Liens and Installment Deals? The Tax Lawyer in San Francisco, CA Robert Wood You’ve no doubt heard of what the Wall Street Journal calls “a rare show of leniency” from the IRS. But as a tax lawyer for over 30 years, I’m not sure how its implementation will impact most struggling taxpayers. I’m cautiously optimistic it might have an impact, but the proof is in the pudding. A target of the IRS’ Information Release 2011-20 is tax liens, and its true there’s long been a push-me-pull-you effect. Even if the IRS doesn’t pursue aggressive collection efforts like trying to sell assets, it is trained to slap on a tax lien. After all, that’s how creditors get priority and get security for payment. But tax liens impact credit ratings and some taxpayers say they are hurt disproportionately and can be put out of business by a tax lien.
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