A tax lien essentially gives the U.S. government or State the right to your property as security for a tax debt. This prevents you from being able to sell or refinance that asset without authorization or release by the IRS or State.
Releasing a tax lien generally requires either coming to some kind of repayment agreement with the IRS or state, i.e. payment in full Offer in Compromise, discharge in Bankruptcy, Lien Subordination, or the legal time for the IRS or State to collect the tax has expired.
Examples of why individuals and businesses should have the liens removed include the following:
- Purchase of Real Estate
- Credit Reports
- Formal acknowledgment from by the IRS or State Tax Agency that the tax debt is discharged
Our firm provides a service wherein we submit a professionally prepared application for lien release.
