Release of Tax Liens or Levies

"An IRS tax lien works like a spider's web; it sticks to all your assets." Michael P. Tyson, Jacksonville Tax Attorney

A Tax Lien is used by the IRS as a tool for security towards or payment for income tax owed the federal government. The filing of a tax lien serves as a public notice to your creditors that the IRS has a claim on property that is in your name, including properties acquired AFTER the lien is filed. This includes your house, car and bank accounts.

RELEASING YOUR TAX LIEN

The IRS may issue a Withdraw or Release filing of the Notice of Federal Tax Lien under certain circumstances including some of the situations listed below:

  1. The taxpayer has fully paid all taxes owed, including interest and additional fees.
  2. The taxpayer has successfully negotiated and paid the lower amount of taxes by method of an Offer in Compromise.
  3. The IRS accepts a bond that the taxpayer submits that serves as a guarantee of payment of the debt.
  4. The tax lien releases automatically 10 years after a tax is assessed if certain conditions are met.
  5. You may apply for release of a tax lien by completing a Certificate of Discharge, in the event that you sell a home or other property.
  6. The notice of Federal Tax Lien was filed too quickly or in violation of IRS procedures.
  7. Withdrawal will allow for faster collection of the tax.
  8. Withdrawal would be in the best interest of both you and the government.
  9. If the taxpayer was in bankruptcy and the IRS assessed the tax and filed the lien, even though those in bankruptcy are allowed an automatic stay.
  10. The IRS made an error of procedure in an assessment.
  11. The taxpayer was not given the appropriate opportunity to dispute the assessed liability.


Your credit rating may be affected upon a lien being filed. You may be denied a loan to buy a car or a house, the ability to sign any type of lease, or a new credit card. To minimize the damage to your credit rating, you need to resolve your tax lien problems as soon as you can.

Contact me by e-mail or by telephone at 1-904-990-7890

RELEASING A WAGE OR BANK LEVY

It is often the case that a Taxpayer can petition the IRS to have a wage or bank levy removed so long as they show concrete efforts toward resolving their tax debts. This can include:

  1. Providing a deadline date to supply financial information to the IRS.
  2. Entering into an Installment Payment Agreement with the Internal Revenue Service.
  3. Demonstrating a severe hardship that will be caused by the wage or bank levy.


As with all interactions with the Internal Revenue Service, having qualified and experienced attorney on your side will allow you to take advantage of all of your options.