Tax Liens can mean the end for many business owners, but the end can be avoided if some of the pitfalls of the process are warded off ahead of time. The process with the IRS and other entities almost always follows the same format when the tax situation has gotten out of control, so planning can be quite simple if a business wants to stay afloat.
The process normally begins when an IRS deadline has been breached and the business owner finds themselves unable to pay for one reason or another. The owner will then approach an attorney or tax lien settlement expert to negotiate on their behalf with the IRS to ask for a reduction and settle the debt. This process normally goes on for a while and the end result can be a significant reduction in the debt owed. Here at BLS Finance , we have seen $1,000,000 tax liabilities reduced down to $250,000 or even lower, But, the part most business owners don’t realize (and the part most attorneys and expert services don’t tell their clients) is that once a significant settlement has been made with the IRS, the payment options can be inflexible, to say the least. For example, a typical payment plan for the aforementioned scenario would be $125,000 X 2 Months!
This is one reason why many companies go out of business over tax liens, though attorneys and special services have negotiated the outstanding tax debt to a fraction of the cost on their behalf. In this typical situation, business tax lien consolidation can not only help, but can literally save the company.
Benefits of this program include:
- no limit on the amount of tax liens consolidated
- significantly longer terms than IRS or state government payment plans
- tax liens paid off immediately, lifting the judgment(s) encumbering the business owner’s property and personal credit profile
- extra working capital can be consolidated into the loan, in many cases
- no property required to secure the loan against
If your company is currently negotiating tax liens or recently settled and feeling the pinch from the payment terms, please visit our website at http://www.blsfinance.com/tax_liens.aspx or call us at (980) 202-7990, Mon. – Fri. 9am – 5pm EST. We would be happy to discuss your situation.
We are also able to consolidate merchant cash advance loans under this program.