IRS Tax Lines

IRS Tax Liens
You owe taxes and can't seem to pay your bills. The IRS has placed an IRS lien on your home, your assets, and your bank accounts. You may feel as though there is nothing that can help you resolve this issue
Federal Tax Liens are public records that indicate you owe the IRS various taxes. They are filed with the County Clerk in the county from which you or your business operates.
A tax lien is one of the aggressive collection actions of the IRS to fulfill an unpaid tax debt. It is attached to all property, and to all rights to property, such as accounts receivable, for business owners. The claim extends to property acquired after filing the tax lien as well. After a tax lien has been filed, the taxpayer is limited when it comes time to sell or refinance the property.
A "Notice of Federal Tax Lien" is then filed to notify the public and the taxpayer's creditors that the IRS has a claim against the taxpayer's property. The tax lien becomes part of the public record when it is filed with the clerk of the county in which the taxpayer lives, operates a business, and/or owns real property. The IRS must then notify the taxpayer within five days of the tax lien filing of the right to a hearing. At the hearing, the taxpayer can contest the validity of the lien. If unsuccessful, the taxpayer may appeal the determination to the U.S. Tax Court or a federal district court.
A tax lien would be released once the underlying debt is satisfied or it becomes unenforceable due to the lapse of time. The tax lien may also be released once an offer in compromise is accepted and the offer amount satisfied. However, even after it is released, the tax lien may be reflected on the taxpayer's credit report for up to ten years and negatively affect their credit and borrowing ability.
The IRS may withdraw the public notice of tax lien before full payment if:
The filing of the notice was premature or was not in accordance with administrative procedures;
The taxpayer entered into an installment agreement to pay the tax debt;
Withdrawal of the notice would facilitate collection of the tax debt;
Withdrawal of the notice would be in the best interests of the government and the taxpayer.
In most cases, it is only after a taxpayer has fulfilled their obligation of repayment will the IRS release the tax lien against them. Fortunately, there are a number of ways a taxpayer can repay their tax debt, including:
Direct Debit Installment Agreement
Streamlined installment Agreement
Partial Payment Installment Agreement( IRS calls this PPIA)
Offer in Compromise
If you have a tax problem or IRS problem, Jared Tax Services can help you release a federal tax lien on your business or home and help save you money.