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Settlement Possibilities For Federal Tax Liens

Taxpayers have options if they need to remove a federal tax lien. When in the best interest of both the government and the taxpayer, there are alternatives for addressing a federal tax lien. The attorneys at Loan Lawyers may help any taxpayer negotiate a settlement with the IRS of any delinquent tax debt, whether or not the IRS has taken action in the form of encumbering or levying real and personal property assets.

Taxpayers may remove a federal tax lien in the following ways:

  • Payment of the tax debt in full. The IRS releases the federal tax lien within 30 days after payment in full of the tax debt.
  • Discharge of property. This permits property to be sold free of the lien.
  • Subordination. This does not remove the lien but allows other creditors to move ahead of the IRS, thus allowing the taxpayer to obtain a needed loan or mortgage.
  • Withdrawal. This removes the public notice and assures that the IRS is not competing with other creditors for the encumbered property.
  • Offer-in-Compromise. This requires completing the terms of the offer and making payment in full according to such terms.
  • Expiration of the ten-year statute of limitations. The IRS has ten years from the date of assessment of the tax to collect the debt in full.

Taxpayers must immediately address any filing of a federal tax lien. Taxpayers must act without delay in pursuing some solution to the problem. The attorneys at Loan Lawyers may help any taxpayer negotiate a settlement with the IRS of any delinquent tax debt. Some other available options are to:

  • dispute the amount of taxes owed;
  • agree to an affordable installment agreement; and
  • apply for non-collectible hardship status.

At Loan Lawyers, our South Florida consumer rights and debt defense attorneys may help individuals negotiate a settlement of tax debts and help with the removal of any federal tax liens. To schedule a free consultation at any of our three conveniently located offices, contact Loan Lawyers today by calling (888) FIGHT-13 (344-4813).