Lien Assistance

A tax lien is a common tactic used by the IRS or state to protect its interest. It is the government’s legal claim against a taxpayer’s property when that individual fails to pay their taxes.

When the government places a tax lien on someone’s property, that doesn’t mean the property will be sold. Rather, the authority is guaranteed a claim over other credits competing for the taxpayer’s assets. They want to be paid, so they will put a lien on any property you own so you may not sell without paying the taxes you owe first.

Tax liens can result in any of the following outcomes:

• Credit: Liens can impact your credit and compromise your ability to get a loan.
• Business: The government has legal rights over your business property and assets, including accounts receivable.
• Assets: A tax authority claims all current and future assets acquired amid the lien.
• Bankruptcy: If you file for bankruptcy, your lien, outstanding balances and Notice of Federal Tax Lien may remain.

There are no hard rules on when liens are filed, and they often seem arbitrary. IRS tax liens can be filed for unpaid taxes as small as $100, and we’ve seen clients owe millions with no liens filed. Keep reading to determine if you need tax lien assistance.

If you have a lien on your property and are unable to pay your tax bill, there are other ways you can get the lien removed. Some of the most common methods include:

• Lien release: Releases cancel existing liens to ensure they don’t inhibit the associated property any longer.
• Partial lien release: An IRS partial release of lien reduces the amount of taxes the taxpayer owes after paying a portion of the sum.
• Lien discharge: You can discharge a lien through full owed tax repayment, lien expiration or balance forgiveness so that it no longer encumbers the property.
• Lien subordination: Rather than removing a lien, subordination allows other creditors to supersede the IRS, making it easier for the taxpayer to get a loan or mortgage.
• Lien withdrawal: The IRS will withdraw a lien if they filed it incorrectly.

Though there are various ways to remove a federal lien, they are not as straightforward as they seem. That’s why it’s highly beneficial to invest in lien assistance services from certified tax professionals to get the best outcome for your situation.

A tax lien is a common tactic used by the IRS or state to protect its interest. It is the government’s legal claim against a taxpayer’s property when that individual fails to pay their taxes.

When the government places a tax lien on someone’s property, that doesn’t mean the property will be sold. Rather, the authority is guaranteed a claim over other credits competing for the taxpayer’s assets. They want to be paid, so they will put a lien on any property you own so you may not sell without paying the taxes you owe first.

Tax liens can result in any of the following outcomes:

– Credit: Liens can impact your credit and compromise your ability to get a loan.
– Business: The government has legal rights over your business property and assets, including accounts receivable.
– Assets: A tax authority claims all current and future assets acquired amid the lien.
– Bankruptcy: If you file for bankruptcy, your lien, outstanding balances and Notice of Federal Tax Lien may remain.

There are no hard rules on when liens are filed, and they often seem arbitrary. Liens can be filed for unpaid taxes as small as $100, and we’ve seen clients owe millions with no liens filed. Keep reading to determine if you need help with tax liens.

If you have a lien on your property and are unable to pay your tax bill, there are other ways you can get the lien removed. Some of the most common methods include:

– Lien release: Releases cancel existing liens to ensure they don’t inhibit the associated property any longer.
– Partial lien release: An IRS partial release of lien reduces the amount of taxes the taxpayer owes after paying a portion of the sum.
– Lien discharge: You can discharge a lien through full owed tax repayment, lien expiration or balance forgiveness so that it no longer encumbers the property.
– Lien subordination: Rather than removing a lien, subordination allows other creditors to supersede the IRS, making it easier for the taxpayer to get a loan or mortgage.
– Lien withdrawal: The IRS will withdraw a lien if they filed it incorrectly.

Though there are various ways to remove a federal lien, they are not as straightforward as they seem. That’s why it’s highly beneficial to invest in lien assistance services from certified tax professionals to get the best outcome for your situation.

A Notice of Federal Tax Lien (Form 668(Y)) is a public document filed with your county recorder’s office or state filing agency. It becomes part of the public record and notifies creditors, lenders, and the general public that the IRS has a legal claim on your property. You’ll receive a copy for your records.

These terms are often confused, but they’re different:

– Tax Lien: The government’s legal claim on your property (it’s more of a notice)
– Tax Levy: The actual enforcement action—when the government seizes your assets, such as garnishing up to 75% of your paycheck or freezing bank accounts

A lien gives the government priority; a levy is when they actually take action to collect.

A federal tax lien generally lasts for 10 years from the date the IRS assessed your tax liability. This is known as the Collection Statute Expiration Date (CSED). After 10 years, the lien expires and the IRS’s right to collect expires as well. However, certain circumstances—like filing for bankruptcy, submitting an Offer in Compromise, or requesting a Collection Due Process (CDP) hearing—can extend or pause this period.