A tax lien negatively impacts your credit. A tax lien may prohibit your ability to purchase, sell, refinance, or transfer real property. Moreover, it may negatively impact your ability to gain employment as well as retain employment. 

The government files a tax lien to “protect” its interest. That is the routine explanation given. Yet, in many cases, the tax lien filing actually jeopardizes the payment of taxes.  It merely further cripples the taxpayer, while not facilitating the collection of any taxes.

Under the law, the IRS is to release a Federal tax lien within 30 days of when the liability is fully paid or becomes legally unenforceable or the IRS accepts a bond for payment of the liability. There may be payment options which allow payments without the filing of a tax lien.  Further, Demands for payoff of a tax lien can be made through escrow. Additionally, where a tax lien has been filed, a Certificate of Discharge can remove an IRS tax lien from specific property, thus, allowing a sale to a third party (even though the taxes are not completely paid).  Other options may include subordination.  

Federal Tax Lien Reference Materials  appear on this linked page.

 Please call and discuss you options with an experienced Tax Attorney.

Call in your TaxSOS today.

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