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    WBarbee's Avatar
    WBarbee Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 10, 2008, 10:00 AM
    IRS Tax Lien
    I owe the IRS over $10,000 but am unable to pay it. They notified me they were issuing a Notice of Tax Lien. I don't have any property in my name except my car. What does this mean?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 28, 2008, 12:29 PM
    It means that they will continually try to collect these taxes for the next TEN years.

    They can and probably will eventaully garnish your wages unless you can show that the wage you earn barely keeps you above the poverty level.

    Any attempt to purchase ANYTHING of value will be obstructed by this lien, which goes on your credit report.

    You should TRY to set a payment plan and get to work on paying this debt, or it will dog you for the next ten years.
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