Under certain circumstances we can secure the withdrawal of a federal tax lien, but it typically requires payment to the IRS.
Federal tax liens are a relatively passive form of collection. The IRS files this form with your local county to secure their interest in any assets you may have. It is common practice for the IRS to file a federal tax lien against each balance due even if you don’t necessarily have assets to file against. In which case the biggest hindrance is that liens are public record. Unfortunately, there are tons of tax relief companies and representatives that use these records to solicit business in a misleading manner, sending aggressive notices that are portrayed as coming directly from the IRS to intimidate people into contacting them. This is one reason it is so important to recognize genuine contact from the IRS.
Although credit bureaus are no longer reporting federal tax liens, they will show up if you apply for lending such as a car loan or mortgage. But where they have the biggest impact is if you are trying to sell or refinance your home. The IRS will allow you to do these things, but they require a considerable amount of paperwork to get around the lien and they typically require payment to the IRS. This can make the process of discharging your lien pretty stressful, especially since you’re usually working to meet a closing deadline. However, Simple Tax Solutions can help make this process as efficient as possible. We can work directly with your lender and the IRS so that you can focus on what is really important.
Liens are never fun but they can be addressed. Call for your free consultation today to find out how we can help you handle your lien.
Our Lien Services
Requires Balance Below $25k or Special Circumstances
Requires Installment Agreement to be Established
Certificate of Discharge or Lien Subordination
Requires Detailed Paperwork
Typically Requires Payment to IRS in Situations with Positive Equity
Can Take 30-90 Days