Will Our IRS Tax Liens Prevent Us From Opening a New Business?

“Dear Steve,

We have an IRS lien against or business that we are attempting to sell, and an IRS lien against our home.

My husband and I have successfully ran a small biz for 11 years with the exception of 2010 when some taxes weren’t paid. Weare looking to sell our current location to pay the IRS business lien. However a lien remains on our personal property. We have an investor to help us open a new location but we are wondering how the liens on our credit will effect negotiations with a new landlord. Donna

Do You Have a Question You'd Like Steve to Answer? Click Here.

Donna”

Dear Donna,

Is your personal property part of the sale of the business? With the limited information you provided it’s tough to give you any definitive answer on anything.

How your liens will impact your ability to lease a new location is a matter between you and the landlord. Some might not care at all if they are struggling to lease space. Others might be picky if it falls within their exclusion criteria.

Please post your responses and follow-up messages to me on this in the comments section below.

 Sincerly,
 Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.