When will the IRS issue a Tax Lien?
Generally speaking, when a
taxpayer owes the IRS back taxes, and the Taxpayer makes little or no attempt
to settle or negotiate a payment plan, the IRS has the right to file a Federal
Tax Lien (to protect its interest in the amount of the Tax Liability).
Why does the IRS issue a Federal
Tax Lien?
A Federal Tax Lien gives the IRS a
“priority on your real and personal property against all other creditors and
furthermore, it provides them the right to seize the property subject to prior
encumbrances.”
When will the IRS remove a Tax
Lien?
The IRS will release a Federal Tax
Lien when the tax liability related to the Tax Lien is fully satisfied. The IRS
will release the tax lien within 30 days after full payment or immediately if
paid in cash or the equivalent of cash. A Federal Tax Lien can also be released
if any of the following circumstances applies:
1.The lien was filed not in
accordance with IRS regulations.
2.The release of lien would speed
up the actual collection process.
3.The IRS determines it is in
their best interest and the taxpayers.
http://www.asktaxguru.com/8255-when-will-irs-issue-tax-lien-under.html
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