Release of Tax Lien
Michael C. Whelan • Chicago Tax Lawyer
If you haven’t paid the amount of taxes owed or filed tax returns, the IRS can file a Notice of Federal Tax Lien against you. You may be forced to sell your property to settle your debt and might find it difficult or impossible to obtain any type of credit. The IRS has also made your tax problems public record. You can get relief from a federal tax lien, but you need an experienced and knowledgeable tax resolution professional to protect your rights.
When the IRS lien becomes part of the public record it can severely impact your financial situation. Once the IRS lien is recorded, credit bureaus are notified, which can impact your ability to sell or buy a car, buy property, file bankruptcy, get a credit card, lease a home, and even find employment.
How To Get A Tax Lien Released By The IRS
There are only a few specific ways to have an IRS tax lien released, and each option requires careful consideration and action. These methods typically involve fulfilling certain requirements set by the IRS, providing necessary documentation, or negotiating a resolution.
Under certain circumstances when you may not quality for a tax lien release, you may still qualify for a tax lien withdrawal. A tax lien withdrawal revokes the public tax lien record and can be requested either after your tax debt is paid or through the IRS Fresh Start Program. The available options for a tax lien release include:
- 1
Pay the past due tax bill in full.
- 2
Negotiate an acceptable Offer of Compromise.
- 3
Statute of Limitations expiration.
- 4
Possibly though a discharge in Bankruptcy.
- 5
File a Collection Due Process Hearing.
Few experiences can be as stressful as dealing with the IRS and facing the prospect of figuring out how to get a tax lien released. Contact us today for a consultation.
