Today, Optima Tax Relief Lead Tax Attorney, Phil, answers a burning question: “Will hiring Optima Tax Relief affect your credit score?”
The short answer is no. Hiring Optima Tax Relief does not directly affect your credit score. However, there are a few ways the process could impact your credit indirectly.
If you don’t pay your tax debt after receiving notices from the IRS, they may file a Notice of Federal Tax Lien. This public document alerts creditors that the government has a legal right to your property, including real estate, personal assets, and financial assets. While tax liens don’t affect your credit score, they do make it more difficult to sell or refinance assets and secure loans.
The most straightforward way to avoid or remove a lien is by paying off the tax debt in full. Once the debt is settled, the IRS releases the lien within 30 days. However, if you cannot afford to do this, you can try for an installment agreement or Offer in Compromise. Optima Tax Relief is the nation’s leading tax resolution firm with over $3 billion in resolved tax liabilities.
Don’t forget to catch next week’s episode as Phil reviews the most important things to know about Form 1040-X.
If you need tax help, contact us today for a Free Consultation