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Mount Laurel, NJ: IRS Tax Lien, IRS the Piggy Bank

By
Industry Observer with OnPoint Resolution LLC

Live in Mount Laurel, NJ? Here is a quick story about IRS Tax Lien

What Happens When You Don't Pay Your Taxes to the IRS

Imagine you have a piggy bank where you keep all your treasures. But one day, you forgot to share some of your treasures with a friend, like you promised. That friend is like the IRS, which is a group that collects money for the government. When you don't share your treasures (or pay your taxes), the IRS says, "Okay, until you share like you promised, I'm going to put a sticker on your piggy bank. This sticker tells everyone that I get to take some of your treasures first."

This sticker is called a tax lien. It means if you try to buy something big, like a bike, with the treasures from your piggy bank, the IRS gets to take some of those treasures first. It also means that if you want to borrow treasures from someone else, they might say, "No, because the IRS has that sticker on your piggy bank."

But don't worry too much! If you start sharing your treasures like you promised, by giving some to the IRS, they will remove the sticker from your piggy bank. The best thing to do is to always share your treasures (pay your taxes) on time, so you never get a sticker on your piggy bank.

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Fanta Kaba

OnPoint Resolution LLC

309 Fellowship Road

Mount Laurel, NJ 08054

Tel. 973.840.7350

Fax. 347.344.6942

 

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