Tax Liens Help

The IRS tax lien is a claim against taxpayer’s property, including property that is obtained after a lien is filed. Under certain statutory requirements, the IRS and state agencies have power to impose a tax lien on all person’s assets, if the person owes back taxes. The tax lien applies to all rights, title and interest of the taxpayer. Once the IRS or a state tax agency have a tax lien on all of a taxpayer’s assets, they may bring that tax lien into action by administratively levying taxpayer’s assets.

IRS Tax Liens gives the IRS a legal claim to taxpayer’s property as security or payment for your tax debt. There are several requirements that must be met for the IRS to file A Notice of Federal Tax Lien:

• IRS must assess the tax liability;
• IRS must send a Notice and Demand for Tax Payment (a bill telling how much taxes is owed) to the taxpayer;
• Taxpayer neglects or refuse to pay the debt in full within 10 days after IRS notification. 

A tax lien is filed by and serves the interests of the government. Once an IRS tax lien is filed, it may appear on taxpayer’s credit report and it may harm taxpayer’s credit rating. Tax lien makes it very difficult to obtain credit or to sell real estate. Therefore, it is crucial to resolve IRS tax liability as quickly as possible, before lien filing becomes necessary. 

Once a lien is filed, the IRS generally cannot issue a “Certificate of Release of Federal Tax Lien” until the taxes, penalties, interest, and recording fees are fully paid. IRS will issue a Release of the Notice of Federal Tax Lien:

• During 30 days after the tax due to the IRS, including interest and other additions, is paid or adjusted;
• During 30 days after IRS accepts a bond submitted by taxpayer, securing payment of the debt.

Although the taxing agencies are extremely reluctant to release or modify tax liens, in some cases, IRS tax liens can be made secondary to other liens. That process is called subordination and allows the taxpayer to borrow money against his assets to satisfy the tax lien fully or partially.

Call San Francisco Tax Attorneys also make sure the tax agencies have met all legal requirements for a legal tax lien filing. If any defects are discovered in the tax lien process, San Francisco Tax Attorneys immediately appeal the filing of the tax lien.

Contact us in San Francisco, Oakland or San Jose

Tax Lien related links
Tax lien certificates at TaxHelpers.com
Tax liens at MyTaxProblem.com