The IRS files liens against individuals who have not paid their taxes. It notifies the public that the person has unpaid federal taxes. We provide IRS lien removal services to help taxpayers with this problem.
Liens are attached to the property of the taxpayer, whether it is real property or personal property. If the property is sold while the IRS lien is still in effect, the IRS will take a portion of the process before the taxpayer gets the payment.
Once the IRS lien is filed, it is now a public record. It shows the full amount the individual needs to pay the IRS at the time the lien is filed. The report is often picked by credit reporting agencies and will be part of the of the individual’s credit report. That’s why it is crucial for a taxpayer to do IRS lien removal to improve one’s credit rating.
The IRS will remove a lien if it was filed in error, if the outstanding balance is satisfied through a settlement, if the lien is unenforceable due to the ten-year statute of limitations, or if the outstanding balance is paid in full. There are several ways to do an IRS lien removal, which are release and withdrawal.
Release is an IRS lien removal method that means that the lien doesn’t burden the property anymore. Once the lien is released, the county records will show the release as well. However, keep in mind that a tax lien will remain on one’s credit record for a maximum of ten years.
A lien is often released within thirty days of full payment of the tax obligations, or after a streamlined installment agreement was reached. The IRS may also release a tax lien to make the collection of the tax faster or if it is in the best interest of the government and the taxpayer. IRS lien removal through release is often made by the IRS after full payment of tax. The federal agency will provide a copy of the release that can be forwarded to the credit report bureaus.
Withdrawal is the second type of IRS lien removal method, in which the IRS will cancel the lien as if it was not filed at all. Withdrawals usually occur when the tax lien was filed by mistake. If you think that the IRS made a mistake with a lien, then contact the agency right away. Or you can consult with an IRS lien removal service provider to do it for you. The IRS will review the account to verify whether you have outstanding tax or not. The IRS has a fresh start program that allows taxpayers for lien withdrawal as long as they meet specific criteria.