Do you need to get a Federal Tax Lien Released or Removed?
There are different ways to get this done and get IRS tax relief.
Fresh Start Tax is comprised of Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents.
With over 205 years of professional tax experience and over 60 years with the IRS we can help resolve any tax problem you have.
Free Consult. 1-866-700-1040.
It is of utmost importance to avoid the federal tax lien at all costs. Many times if you contact IRS while you are in notice status it is possible to avoid the filing of the federal lien. You should call us for more details.
Settling with the IRS will remove the Federal Tax Lien.
When a taxpayer submits and the IRS approves a Offer in Compromise, the IRS will remove the Federal tax Lien for pennies on a dollar. However you must qualify for an Offer in Compromise to settle with the IRS. You can call us today and we can see if you are a candidate for a IRS tax settlement. On staff of Fresh Start Tax LLC is a former IRS agent who was a Offer in Compromise specialist.
New IRS Tax Law helps those having IRS Tax Liens.
Tax Lien Thresholds
The IRS is significantly increase the dollar thresholds when federal tax liens are filed.
The new dollar amount is in keeping with cost of living changes since the number was last revised. Federal Tax liens are automatically filed at certain dollar levels for people or businesses with tax balances.
A federal tax lien ( FTL ) gives the IRS a legal claim to a taxpayer’s property for the amount of an unpaid tax debt.
Filing a Notice of Federal Tax Lien is necessary to establish priority rights against certain other creditors. Usually the government is not the only creditor to whom the taxpayer owes money. The filing of the Tax Lien will destroy your credit rating.
A federal lien informs the public that the U.S. government specially the IRS has a claim against all property, and any rights to property, of the taxpayer. This includes property owned at the time the notice of lien is filed and any acquired thereafter.
Tax Lien Withdrawals
The IRS will also modify procedures that will make it easier for taxpayers to obtain lien withdrawals.
Federal Tax Liens will now be withdrawn once full payment of taxes is made if the taxpayer requests it. The IRS has determined that this approach is in the best interest of the government and the taxpayer as well.
In order to speed the withdrawal process, the IRS has now streamlined its internal procedures to allow collection personnel to withdraw the liens.
Direct Debit Installment Agreements and Liens
The IRS is making other fundamental changes to liens in cases where taxpayers enter into a Direct Debit Installment Agreement . For taxpayers with unpaid assessments of $25,000 or less, the IRS will now allow lien withdrawals under several scenarios:
1.Lien withdrawals for taxpayers entering into a Direct Debit Installment Agreement.
2. The IRS will withdraw a lien if a taxpayer on a regular Installment Agreement converts to a Direct Debit Installment Agreement.
3. The IRS will also withdraw liens on existing Direct Debit Installment Agreements upon taxpayer request.
4. Federal Tax Liens will be withdrawn after a probationary period demonstrating that direct debit payments will be honored.
New Rule by the IRS under the Fresh Start Program
The IRS recently approved new rules to assist struggling Taxpayers due to the economic recession. The new rules state that the IRS will withdraw tax liens that are filed against taxpayers who meet certain criteria.
If you owe less than $25,000 to the IRS and enter into a payment agreement the IRS will withdraw the lien.
IRS Tax Lien Discharge or IRS Tax Lien Subordination.
Other Ways to Remove a Federal Tax lien
1. Paying your tax debt in full.
This is obviously the quickest and the fastest way to get rid of a federal tax lien. The IRS releases your lien within 30 days after you have paid your tax debt. If you walk into the local office with a cashier check you can ask the IRS to issue you a release right on the spot.
2.When conditions are in the best interest of both the government and the taxpayer.
We have a client that a third party lender was going to give the taxpayer money to pay off some of the lien. We persuaded the IRS to release the lien for this funding to go through. Situations that benefit both the government and the taxpayer can also release the federal tax lien.
3.Discharge of property.
Allows property to be sold free of the lien. The seller or buyer can submit Publication 783, Instructions on How to Apply for Certificate of Discharge From Federal Tax Lien (PDF).Call us for more details.
4. Subordination.
This does not remove the federal tax lien , but allows other creditors to move ahead of the IRS, which may make it easier to get a loan or mortgage. For more information review Publication 784, Instructions on How to Apply for a Certificate of Subordination of Federal Tax Lien.
This is available on (PDF).
5.Withdrawal.
This removes the public notice and assures that the IRS is not competing with other creditors for your property. If applying for a withdrawal, use Form 12277, Application for the Withdrawal of Filed Form 668(Y), Notice of Federal Tax Lien (PDF).
Call us for a no cost consultation, 1-866-700-1040.
