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Resources:
Tax Education: Tax
Liens
Tax Liens arise
automatically when you own money to the IRS and do not pay. This
statutory lien becomes public information when the IRS
files a Notice of Federal Tax Lien. A recorded tax lien seriously
damages your credit rating. The liens are picked up by the
credit reporting agencies.
The statutory lien can be
eliminated only by payment of the tax, discharging the tax in
bankruptcy, reducing the tax and paying it through an
offer-in-compromise, or having the statute of limitations lapse.
The Notice of Federal Tax Lien is eliminated only by an IRS
Certificate of Release of Federal Tax Lien.
Removing the Notice of
Federal Tax Lien is difficult as long as the tax remains unpaid.
The filing can be appealed with the IRS, but most appeals
fail. The best strategy is a proactive approach before the
lien is filed. Professional help is advised.
Partial payments will not
reduce the amount of the tax debt stated on the Notice of
Federal Tax Lien. Even if you pay most of the tax debt,
the lien amount remains the initial full amount until the
tax debt is paid in full.
Lien subordinations are
possible if it helps the IRS get the tax paid. Contact us for
help.
Sometimes the IRS fails to
issue the Certificate of Release of Federal Tax Lien after the
tax debt has been paid in full. This is irksome, to say
the least. We know how to get rid of the tax lien in this situation.
For more information contact
us at taxhelp@taxdefendant.com
or
Toll Free 866-216-1930
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