IRS has just filed a Federal Tax Lien, what happens next? Call us today to know your rights. We can help get you a Fresh Start!
IRS Tax Liens
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How can I get my Federal Tax Lien released?
If the IRS has just filed a Federal Tax Lien against your name for back taxes, you probably received a copy of the Notice of Federal Tax Lien. The original recording of that Federal Tax Lien is filed at the courthouse closest to where you live. The tax lien is now a matter of public record. This notice will be picked up by all the credit reporting agencies and you will receive solicitations from many companies saying they can remove the lien. The question you need answered is how can a Federal Tax Lien get released. These are the only ways:
- By paying the past due tax in full;
- By a successful Offer in Compromise and fulfilling the terms in full with all payments;
- By having the ten year statue expire;
- If the Federal Tax Lien was filed mistakenly, file an administrative claim with the Internal Revenue Service to have it removed;
THERE ARE NO OTHER WAYS TO GET FEDERAL TAX LIENS RELEASED. Do not be fooled by companies telling you they can.
What is a Federal Tax Lien?
An IRS Federal Tax Lien is a legal claim asserted against a taxpayer’s assets in an attempt to collect unpaid taxes. The IRS Letter 3172, Notice of Federal Tax Lien and Right to a Hearing, is sent to the taxpayer to establish public notice to all creditors that the IRS has a claim against all your current property and any property you acquire or are entitled to after the tax lien is filed.
The IRS Federal Tax Lien will remain a matter of public record until paid in full. The sooner an IRS Federal Tax Lien is removed the faster you can get back on your financial feet. The IRS has collection policies which require a tax professional to negotiate a solution which is a budget-wise and equitable arrangement that you and your family can live with allowing you a Fresh Start.
What Can I Do About A Federal Tax Lien?
Effects of a Federal Tax Lien
The Federal Tax Lien will definitely have an effect on your financial life. The Federal Tax lien will be filed in the county courthouse where you live. It puts everyone on notice that you owe federal tax, whether it be income or payroll tax. The federal tax lien can and will effect these areas of your life:
- Credit Report;
- Sale of Residence, or Property;
- Sale of Registered Vehicles;
- Bankruptcy Proceedings;
- Ability to Obtain Credit;
- Ability to Sign a Lease;
- Obtain New Employment;
What Happens Next
The best thing to do is to start working on a plan or a solution to the IRS problem. This federal tax lien on back taxes is not going to go away by itself. A plan must be set in motion to effectively deal with this IRS problem. The tax lien is only going to go away by one of these three ways; pay the tax in full, have an offer in compromise accepted and the tax due under the offer in full or by the statute of limitation. IRS has a period of ten years from the date the tax was assessed in which to collect the money in full. After that period of time the case removes itself by way of statue. Call Fresh Start Tax or email us your questions to see what works best for you.
We can help you determine your options with tax liens:
- Dispute the Amount of Taxes Owed
- Offer in Compromise Settlement
- Affordable Installment Agreement
- Apply for Non-collectible Hardship Status
Why a Fresh Start Tax Professional?
For individuals who want personalized attention to every detail.
- 100 Years of Combined Professional Tax Experience
- Exclusive Access to a Tax Professional, Not a Salesperson
- Comprehensive Review of Taxpayer Rights
- Unbiased Tax Advice, including do-it-yourself resolution options
- Honesty, Integrity, Dependability, Affordable
Questions on Tax Liens – Feel free to email us a question!
If IRS filed a substitute tax return for you, we can help!
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