Friday, October 17, 2008

IRS Federal Tax Lien

If you have been issued a federal tax lien you have basically two options to remove the lien. Paying the tax in full will get the lien released or getting an Offer-In-Compromise accepted. Despite what you hear or read a federal tax lien is difficult to remove. The IRS files tax liens to protect the government’s interest. Tax liens are usually filed when a taxpayer owes more than $25,000 to the government. Tax liens may or may not be filed if the amount owed is less than $25,000.

Sometimes taxpayers are unaware a tax lien has been filed. This can happen if the taxpayer has not received notifications from the IRS stating their intention to file a lien. Or the taxpayer may have years of unfiled tax returns and the IRS files the returns for the taxpayer, calculates the tax liability and files a tax lien. Either way this is a situation that requires professional assistance. The best bet is to call a professional tax resolution firm and have them evaluate your options.

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