Important Details on IRS Tax Liens

The Internal Revenue Service, or commonly known as IRS, is going to serve you a Notice of Federal Tax Lien if you owe them back taxes. In case you haven’t experienced this yet, it would be a very disastrous situation to be in. You would not be able to purchase a new property, car on credit, and borrow against your assets. A tax lien would definitely destroy your credit. And if you do not pay your tax bill on the said deadline, the IRS would file a notice of your debt in record at public offices of the counties you operate. However, you are given an opportunity to pay the IRS or negotiate a settlement. After all, the most appropriate decision is to avoid IRS tax liens.

There are ways for a tax lien to be released though. Here they are:

-Pay in full your tax debt
-An offer in compromise in which the IRS agrees to
-Ending of statute of limitations
-Filing for Bankruptcy

In thirty days, a certificate of lien release should be sent to you, and the lien filed against you must have a certificate. If there are none, then request from the IRS office where it was filed. Remember that you have the right to a hearing and can contest the lien. You may also appeal to the Federal district court or United States tax court if you are unsuccessful in avoiding the lien.

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