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May we complete your Federal and State Tax Returns? We complete
ALL STATE tax returns.
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Actual Notice of Federal Tax
Lien Once these requirements are met, a lien is created for
the amount of your tax debt. By filing notice of this lien, your creditors are
publicly notified that the IRS has a claim against all your property, including
property you acquire after the lien is filed. This notice is used by courts to
establish priority in certain situations, such as bankruptcy proceedings or
sales of real estate. The lien attaches to all your property (such as your
house or car) and to all your rights to property (such as your accounts
receivable, if you are a business). Caution! Releasing a Lien The IRS will issue a Release of the Notice of Federal
Tax Lien: In addition, you must pay all fees that a state or
other jurisdiction charges to file and release the lien. These fees will be
added to the amount you owe. Usually 10 years after a tax is assessed, a lien
releases automatically if the IRS haS not filed it again. If the IRS knowingly
or negligently do not release a Notice of Federal Tax Lien when it should be
released, you may sue the federal government, but not IRS employees, for
damages. The full amount of your lien will remain a matter of
public record until it is paid in full, including all accruals and additions.
However, at any time you may request an updated lien payoff amount to show the
remaining balance due. An IRS employee will issue you a letter with the
current amount that must be paid before the IRS issues a release of the Notice
of Federal Tax Lien. If you are giving up ownership of property, such as
when you sell your home, you may apply for a Certificate of Discharge. Each
application for a discharge of a tax lien releases the effects of the lien
against one piece of property. Note that when certain conditions exist, a third
party may also request a Certificate of Discharge. In some cases, a federal tax lien can be made secondary
to another lien. That process is called subordination. By law, a filed notice of tax lien can be withdrawn if: TO
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