Tax Lien Removal

Receiving a tax lien notification can generate feelings of stress and entrapment

It may feel like there’s nothing you can do to resolve the situation. However, you do have options, and it’s important to know what exactly you’re facing before you can take the next step.

Defining the Tax Lien

A tax lien is often the government’s first course of action against a delinquent taxpayer. It essentially involves the IRS filing a legal claim on all assets owned by the taxpayer, including finances, real estate and personal belongings. Anyone can be subjected to tax liens if they don’t pay off tax debts in a timely manner.

The process typically starts with the IRS sending a Federal Tax Lien notice. Keep in mind that a lien is not the same thing as a levy; a tax levy involves physically seizing all assets to pay off tax debts, and is typically put into effect if the taxpayer’s total debt reaches $10,000 or above.

Removing Tax Liens

One of the first and easiest ways to terminate your tax lien is by paying off your debt in full. However, you still have other options if paying off the amount isn’t feasible. There are three specific options you can choose from:

• Withdrawal, which removes the public Federal Tax Lien notice. You are still responsible for paying off your taxes and are still under a tax lien until the debt is paid.
• Subordination, which allows creditors to supersede the debt. This allows delinquent taxpayers to secure a mortgage or loan in spite of a pre-existing lien.
• Discharge of Property, which eliminates the lien from a particular piece of property

Let Us Help You

While you may feel hopeless in the face of a tax lien, know and remember that you always have options. Working with a tax professional can help you succeed in retaining your assets and finding a solution to your tax debts.

Our team is always here to help. Call us at 800-542-4718 or complete our online form to learn more about our services. We’ll provide you with a 15-minute consultation at no cost.