Tax Liens and Paying Your Taxes On Time
It’s that time again … Do you pay your taxes on time? For many Americans, who work for various companies, their taxes are probably taken out of their paychecks and they might not owe anything ( or maybe a little ) by April 15th, however there are many of us that have to pay Uncle Sam and the State so as not to get into trouble with the IRS and end up paying interest and penalties in addition to the taxes that are due. It can become very expensive if your taxes are not paid on time for long periods of time and if this is the case then there is the potential for the government to come after your assets and property, also know as a tax lien. In your public record a tax lien will signify that you were unable to pay a debt to the government and there is some financial leverage placed upon one or more of your assets or paychecks. If you can’t pay your taxes on time then it’s best to file for an extension and this way the government knows that you’re on top of it. In any case it’s important to verify the information in your public record at least once yearly to insure it’s accuracy.