Tax Lien Withdrawal
What is Tax Lien Withdrawal?
The IRS places a tax lien on property or assets when you fail to pay a tax debt. A tax lien withdrawal makes it easier to sell your property or assets if you have a federal tax lien placed on them as it removes the Public Notice of Federal Tax Lien from the asset in question thus making it so that the IRS is no longer in competition with other creditors
How Can I Become Eligible for Tax Lien Withdrawal?
According to the IRS here are two tax lien withdrawal options:
One of the options is possible if you have paid off the lien and it has been released. The criteria for this type of tax lien is as follows:
The other option allows you to file for a federal tax lien withdrawal if you have entered into a direct debit installment agreement or converted your regular installment agreement into a direct debit installment agreement. According to the IRS, the criteria for this option is:
In addition to meeting the above criteria, you must provide documentation to support the claim as well as a list of financial institutions that you would like to have notified of the withdrawal of the tax lien. Find out more of our tax problem resolution services.