With the change to how tax liens are reported, Americans with past tax issues may be able to finally apply for a home loan, auto loan, or credit card. Previously, tax liens could appear on a credit report for seven years after the date of payment, and sometimes longer.
COSTA MESA, Calif. (PRWEB) October 16, 2018
Ideal Tax Solution, a leader in the tax resolution industry, is sharing great news with U.S. taxpayers, especially those saddled with a tax debt issue. Recently, the three major credit bureaus decided to no longer report tax liens on credit reports. This offers an opportunity for Americans who owe back taxes to the IRS or have a tax lien judgment against them to obtain a higher credit score.
“More than 5.5 million liens will be removed from consumer's credit reports, increasing the chances that they will get new loans from banks,” said David Hong, a Senior Enrolled Agent at Ideal Tax Solution. “The change means that a negative event that could have held a taxpayer back from getting approved for financing will be wiped off the consumer's credit report. That could increase their credit score and make them look more creditworthy to lenders.”
With the change to how tax liens are reported, Americans with past tax issues may be able to finally apply for a home loan, auto loan, or credit card. Previously, tax liens could appear on a credit report for seven years after the date of payment, and sometimes longer. This was devastating to many consumers, as it could even prevent them from getting a job.
Consumers suffering from tax problems experience much stress. Ideal Tax Solution is ready to help clients navigate through their tax issues and come up with a viable solution. They offer comprehensive professional representation in defense of taxpayer rights, arriving at resolutions for numerous situations that include unpaid taxes, tax levies, tax liens, wage garnishment, unfiled tax returns, tax audit, IRS asset seizure, tax penalties, penalty and interest abatement, expiration, and much more. They also provide instant protection by filing a “stay of enforcement,” which blocks the IRS from seizing a taxpayer's bank account or assets. The service concludes with a resolution that allows the taxpayer to make a fresh start with the possibility of saving tens of thousands of dollars.
Although the changes in tax lien reporting is good news for Americans wanting to apply for credit, Ideal Tax Solutions would like to remind taxpayers that owing money to the IRS still places them at risk for IRS collection activities, such as asset seizures, bank levies, wage garnishments, and liens on property. Visit https://www.idealtaxsolution.com/services/ to learn how Ideal Tax Solution can help resolve your tax problems and to sign up for a free consultation.
About Ideal Tax Solution:
Headquartered in Orange County, California, Ideal Tax Solution is licensed in all 50 states and provides tax resolution services to consumers throughout the U.S. The company’s team of tax attorneys and consultants helps clients burdened by a tax debt issue by easing the stress and anxiety that comes with serious tax problems. With a mission to provide clients with affordable and expert representation against either the IRS or state revenue agencies, Ideal Tax Solution is ready to assist Americans who have overwhelming tax debt. Go to https://www.idealtaxsolution.com to see how.
Original Press Release may be found at: https://www.idealtaxsolution.com/blog/press-releases/ideal-tax-solution-is-informing-taxpayers-that-the-irs-can-no-longer-ruin-their-credit/
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