Tag Archives: conditions
Releasing a Lien
Thursday, May 6, 2010 // 0 Comments // Tax Law
Because liens have such wide-ranging harm, releasing a lien becomes a priority. The IRS will issue a Release of the Notice of Federal Tax lien if the taxpayer meets proper conditions. If the tax debt is satisfied, the IRS will release the lien within 30 days. Satisfying this debt includes payment of any associated interest [...]
Read more & Talk about itConsequences of a Lien
Thursday, May 6, 2010 // 0 Comments // Tax Law
If the taxpayer fails to satisfy the debts in 10 days, the IRS creates a lien and files a Notice of Federal Tax Lien. Because a lien is filed publicly and gives notice to all creditors, the affects can be immediate and devastating to the taxpayer. Liens damage credit ratings, and the repercussions may prevent [...]
Read more & Talk about itWhat is a lien?
Thursday, May 6, 2010 // 0 Comments // Tax Law
A lien gives the IRS legal entitlement to any property you own, or any property that you acquire after the lien is filed. The IRS pursues a lien to satisfy payment of outstanding tax debts. To meet legal requirements, the IRS must follow a certain process when pursuing liens. First, they must assess the tax [...]
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