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1) Full
payment of the lien. Either
through a lump sum payment,
Installment Agreement,
expiration of the collection statue (10 years), or through an
accepted
Offer in Compromise.
Most federal tax liens are self-releasing and do not require
you to take any action with the IRS.
Once the tax has been paid you will need to submit a copy of
the tax lien (if self-releasing it will state on the original notice
of federal tax lien) and proof of payment to the three credit
reporting agencies. The
IRS does not report the release to the reporting agencies for you.
If the original Notice of Federal Tax Lien does not state it
is self releasing you will need to apply for a Certificate of
Federal Tax Lien Discharge through the Technical Services Group
Manger. It is
recommended that you hire a professional with experience in this
area. Patriot Tax Resolution Co. can prepare the request for you.
2) Expiration of
Collection Statute.
The IRS has a 10 year statute to collect on the taxes.
Again, most liens are self releasing.
If the date of assessment on the lien is older than 10 years
simply follow the steps outlined in example 1. If the lien is not
self releasing then after the 10 year period has expired you can
submit an Application for Discharge of Federal Tax Lien to the
Technical Services Group Manager.
Once received they will verify if the 10 year period has
expired (some times it may be additional years if the statute has
been stalled due to appeals, previous offer in compromises being
submitted or bankruptcy) and if so they will issue a Certificate of
Federal Tax Lien Discharge which you can request or request for the
IRS to send to institutions that you name.
3) Withdrawing Liens.
Basically there are
three ways a Notice of Federal Tax Lien can be withdrawn:
You can substaniate that the withdrawal of the Federal Tax Lien will Facilitate Collections, or The collection statute expires .To discuss your options pertaining to a Federal Tax Lien please call or email Nick today!
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Why Choose Patriot? Call us, not only will he be the licensed tax professional providing you with your consultation, he will be the power of attorney working your case to resolution! The sales person consulting you before you hire at other companies WILL NOT be the one working your case. Nick will see your case through from start to finish. Money Back Guarantee If you do not have full confidence in your within the first month of hiring Patriot, we'll give you your money back. If you are not happy with our services we will refund your money. No Sales Pitch. Get a FREE Consultation From with one of our experts. We will give you in-depth review of your case and present you with all the options available to you. |
The Fastest Service! Work begins on your case the moment you hire us. If you have a bank account levy or garnishment, we will have it released in the first 24 hours of hiring us! For Immediate Tax Help Call Do Your Homework!
Before hiring any
firm, ask for references and research their history through
Rip Off Report. |
Request a Free In-Depth Consultation Now! This is a consultation with a licensed tax professional, not with a sales guy. See what the specific options are that you have available to you before you make any decisions on how to proceed. |
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