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Tax Lien
A Tax Lien is the term used for a claim on the taxpayer's property to satisfy an outstanding tax debt. When a Tax Lien is issued to the taxpayer, a public notice is filed. This is done to protect the government's interest in unpaid taxes that are owed by the taxpayer in question.
By federal law, the IRS is given an automatic lien on the taxpayer's property after ten days of the balance still being outstanding after she has received notice. This includes the following properties: any of the taxpayer's real, personal, and tangible, intangible and after-acquired property.
The term 'Notice of Federal Tax Lien' is filed and this serves to inform the public and the taxpayer's creditors that the IRS has actually filed a claim against her property. This Tax Lien is, then, part of public records and it is filed with the clerk of the county in which the taxpayer lives and/or operates a business and/or owns any such real estate.
Subsequently, the taxpayer will get a notification from the IRS that gives her the right to a hearing. It is at this hearing that the taxpayer can contest the Lien and the validity of it. The taxpayer may be unsuccessful and if she is she can still appeal the outcome to the U.S. Tax Court or a federal court.
The taxpayer's Tax Lien would be released when the debt she owes is paid or if it becomes unenforceable due to time lapses. If the taxpayer has an Offer in Compromise in place or if the outstanding debt is paid in full, the Tax Lien will also be released. The taxpayer may suffer credit problems due to the Tax Lien against her name.
There are a few reasons why the IRS may withdraw a Tax Lien before the debt is paid off in full and they are the following:
- the filing of the notice against the taxpayer was premature or not filed correctly
- the taxpayer has made an agreement with the IRS to pay back the outstanding debt amount
- the withdrawal of the notice would allow the taxpayer to pay off her debt
- the withdrawal would be in the best interests for the taxpayer and the government combined
If the taxpayer needs any more information on Tax Liens or wants to know how we can help her then she can get in contact with us for a free, impartial and confidential consultation. We can help the taxpayer negotiate the withdrawal of the Tax Lien against her with our expert team of tax lawyers, CPA's and enrolled agents.