Request Free
Consultation

[contact-form-7 id="325" title="Footer Form"]

Category: Tax Liens

IRS Form 12277: Request to Withdraw Form 668(Y) Filing

12 November, 2024 | Tax Liens

Summary The IRS Form 12277, Application for Withdrawal of Filed Form 668(Y), is used to request the withdrawal of a federal tax lien filed by the IRS due to unpaid tax liabilities. The form applies when you need to remove the public lien notice and qualify for withdrawal. To be eligible, certain criteria must be met, such as premature filing of the lien, entering an installment agreement, or ensuring the withdrawal leads to tax payment. It's recommended to consult with a tax profess... CONTINUE READING

What to Expect If You Receive IRS Notice CP14

3 June, 2023 | Tax Issues Tax Levy Tax Liens Tax Relief

If you don't pay your tax bill, you will eventually receive notice CP14. As of May 2023, the IRS has announced that it is going to be sending out millions of these notices. This is part of the agency's plan to ramp up collection activities after going relatively dormant during the COVID pandemic and its aftermath. The agency also plans to start sending more CP501 notices from its automated collection system. What does this m... CONTINUE READING

IRS federal tax lien release and discharge rules

1 March, 2023 | Tax Liens

Background An IRS tax lien is a kind of security interest granted over a property to secure payment of the debt. We can assist with obtaining a Release a Federal Tax Lien. A tax lien on a property is imposed to secure payment of tax debt. A tax lien may be imposed against delinquent taxes against property or on account of failure to pay taxes. In the United States a federal tax lien may be raised in connection with any kind of federal tax. IRS can have a legal claim to your prop... CONTINUE READING

Filing of Tax Lien Notice

30 November, 2017 | Tax Liens

Filing of Tax Lien Notice When a taxpayer owes the IRS, they may the question, Is there a tax attorney near me? The tax laws create a tax lien that needs to be satisfied before it is extinguished. When balances owed reach certain limits, and after the IRS demands that you pay the tax debt, and the tax debt remains unpaid, the Internal Revenue Service will file a public notice that the tax lien exists. The notice is called Notice of Filing of Tax Lien (NFT... CONTINUE READING

Understanding the Impact of a Federal Tax Lien on Your Finances

6 October, 2013 | Tax Liens

  Summary   A federal tax lien is a serious consequence of unpaid taxes. It attaches to all current and future property and remains in effect until the debt is paid. The lien can result in the IRS seizing and selling assets to satisfy the debt, which can disrupt financial stability and impact property ownership. Additionally, it can affect credit scores, limiting credit opportunities and causing financial stress. To handle a federal tax lien, the most effec... CONTINUE READING

Search For Useful Articles

Article Topics

IRS Collection Statute: A Key Consideration for Every Taxpayer

Summary The IRS has 10 years to collect unpaid taxes, which is called the Collection Statute Expiration Date (CSED). The CSED is triggered when the IRS assesses taxes or a tax return is filed. Certain events, like filing for bankruptcy or applying for an Offer in Compromise (OIC), can t...