Having your Federal Tax Lien released is the only way you can be sure your personal property will not be seized. The most simple way of removing a tax lien is by paying in full. Thirty days after payment is received, the lien is removed. If cash is paid, the lien is removed immediately.
Removing a federal tax lien is possible if:
- The IRS did not file in accordance with regulations,
- Removing tax liens speeds up collections.
- Removing tax liens will be in the best interest of both parties.
Removing an IRS Tax Lien is also possible by appealing the lien. There are a few reasons to appeal a Federal Tax Lien including:
-The debt was already paid in full.
-The IRS filed a Federal Tax Lien while the taxpayer was undergoing bankruptcy proceedings.
-The IRS did not follow procedures when filing the Federal Tax Lien.
-The statute of limitations for tax debt collection, which is generally ten years, has expired.
-The IRS did not give the taxpayer a chance to dispute the Federal Tax Lien.
If you have a Federal Tax Lien on your property, or are in danger of receiving one, you need the experienced professionals at Elite Tax and Accounting on your side.