If you want to have a tax lien removed from your property and you go to the Internal Revenue Service’s website for advice, they will tell you that the best way to remove a tax lien is by paying your tax debt in full. If you do, they will remove the tax lien within 30 days.
This is not always a viable option and chances are, if it was a viable option, there wouldn’t be a lien on your property in the first place. Let’s start from the beginning. Once a tax is assessed, any unpaid portion will be the focus of the attention of the IRS. First, they will send a letter to advise you of the tax assessed and the balance owed. A demand for payment within 30 days will also be on the letter. If the debt hasn’t been paid and the IRS hasn’t heard from the taxpayer by the 30 day deadline, aggressive collection efforts will begin immediately. The IRS will evaluate your financial portfolio and determine the best way to collect the debt. Sometimes this will be a lien on your property. A lien on your property allows the IRS to put the public on notice that any proceeds of the sale will go to the IRS to pay the unpaid tax debt.
How To Get A Tax Lien Removed From Property
Once a lien is put on a property, it complicates the matter of refinance and sale of the property. Sometimes, the lien even stops the sale or refinance. The IRS always has its ultimate goal in mind of obtaining your tax debt and will reasonably consider removing the lien if it is in the best interest of the IRS. Removing the tax lien is not the only option. Sometimes reducing the impact of a tax lien is enough.
Removal of the Lien: The removal of the lien is exactly what it sounds like. It frees the property of the restraints of the lien.
Lien Subordination: A lien subordination retains the lien but allows the IRS to receive payment after other creditors. For example, if you’re refinancing your home in order to pull out equity to pay the tax bill, the IRS may be willing to allow the original home loan holder to be paid before the tax bill in order to make the refinance possible.
Withdrawal: A withdrawal of the lien removes the public notice thus eliminating the competition of the IRS with other creditors for your property.
Which Method Is Right For You?
Every situation is different and determining the right method of lien removal or adjustment to meet your goals should be done by an experienced tax professional. In addition, a tax professional may be able to advise you of other, more suitable options that you qualify for to pay back the tax debt. Oftentimes, these types of agreements with the IRS is enough for them to remove the tax lien. Learn about your options by getting a reputable, experienced tax professional on your side.
IRS Tax Relief Now
IRS Tax Relief Now has been removing tax liens for decades. We have our finger on the pulse of IRS procedures and are able to easily recognize what your personal tax issue calls for. We won’t waste your time or money with a “We can try anything once!” attitude. We make calculated suggestions utilizing our knowledge and experience as our guide. While there’s nothing we can guarantee about the IRS and the decisions they make on each case in a given day, we can guarantee that we will get you the best results that you qualify for.
Contact us today by phone at 888-332-8959 or go to our website for a live chat with one of our tax professionals. We’re always available to serve you. Use our website to gain knowledge on your tax issue. We have several pages dedicated to educating the public and also a free, downloadable tax guide for you as well. Our rating at the Better Business Bureau speaks for our reputation. We invite you to use the link on our home page to see our A+ rating for yourself.
What are you waiting for? We offer a free consultation with a reputable and competent tax firm. You have nothing to lose so contact us today. We look forward to hearing from you.