“If the IRS has placed a lien on your personal property or business assets, it can have a serious impact on your ability to sell, refinance, or use your assets to grow your business.”
- Alyssa Maloof Whatley
If you already have a tax lien in place on your home or other property?
You may think that the only way to get out from under a federal tax lien is to pay your tax debt in full, but if that isn’t a feasible option, there are several remedies available to you.
Ironically, this restriction also makes it almost impossible to satisfy your tax debt. It might make you wonder why the IRS utilizes liens at all as a primary collection tool. Recently, the IRS has increased the threshold for lien placement to $10,000 and if you’re in good faith communication, the IRS is deprioritizing placement of liens.
IRS Tax Lien Withdrawal
As you can imagine, the IRS will only withdraw liens in certain circumstances.
These can include the following:
Improper or premature liens
The taxpayer has entered into an installment agreement to satisfy the liability for which the lien was imposed and the agreement does not provide for a federal tax lien
Removal of the lien will facilitate collection of the tax such as the lien is impairing the taxpayer’s ability to earn a living to pay the liability, etc.
It is in the best interest of the taxpayer and the government. The painful consequences of a federal tax lien are designed to force taxpayer compliance.
A lien withdrawal request, when granted, removes the public Notice of Intent to File a Federal Tax Lien. The withdrawal serves as assurance the IRS will not compete with your other creditors for an interest in your property.
Before you can pursue lien withdrawal, you need to be back in compliance with the IRS. This means that all your returns are filed and that you are current on your withholdings or estimated tax payments.
“Although a tax lien can limit your ability to sell or refinance, there are options to remove or subordinate liens so that you can move forward with a transaction.”
- Alyssa Maloof Whatley
“As a CPA, I have worked closely with Alyssa to help with my clients' complicated tax issues. She is very honest, detailed, and responsive and will hold a client's hand until the issue is resolved and provide honest and clear advice along the way. I've seen her greatly reduce client's tax liabilities.”
“From the moment I started working with Alyssa, my distress & blood pressure decreased and my confidence increased that all of this would be okay! Super smart, very knowledgeable, and just delightful to work with. I'm so relieved and encouraged!”
“Alyssa and her team were fast, to the point and so professional with handling an issue I had with the IRS! She promised that the situation would be handled and in just a few short weeks she delivered on that promise. Thank you so much!”
“I find this attorney to be very honest and willing to assist her clients by guiding them in the right direction. I would recommend her to anyone that has a question on matters of her expertise. She is very knowledgeable and a pleasure to work with.”
“Alyssa is an amazing attorney! She is knowledgeable, efficient, and effective! Also, she is quick to respond, extremely pleasant, and very reassuring. We are so grateful for her expertise and help! Highly recommend!”
“Alyssa has helped me and my parents with an overwhelming tax issue. Something we never thought could be done. She's so kind, patient, thorough and knows tax law. I'd recommend her 100% to anyone when it comes to dealing with the IRS.”
“When I first spoke to Alyssa I was facing an IRS Audit for two years at the same time and felt extremely overwhelmed. Alyssa outlined a solid approach and was very easy to talk to and understand. My tax liabilities were brought down by 50%.”
“I was reluctant to reach out due to all the previous calls to other offices who where going to charge me more than what I owed on my taxes. I spoke with the Alyssa, she was very nice and it did not feel like a sales call. She helped me understand the type of letter I received and patient assisting me.”
“If you need legal assistance with your taxes, I strongly recommend Alyssa. Receiving a large tax notice from the IRS was very scary. Alyssa’s calm and level-headed demeanor helped ease my concerns. She responded quickly to my questions and knew just what to do.”
Is a lien release right for you?
You may be able to enter into an acceptable repayment plan with the IRS and make a successful argument that a lien release is in the best interest of the government by freeing up your options for repayment of your debt.
“Whether you have recently received a Notice of Intent to File A Tax Lien or a lien is already attached to your property or business assets, it’s important to speak to a tax professional about all the available options for your financial circumstances.”
- Alyssa Maloof Whatley
Do IRS tax liens ever go away?
Generally speaking, the IRS lien is good for a period of 10 years. Tax liens are enforceable until the liability is paid or becomes unenforceable by reason of lapse of time (i.e. passing of collection statute expiration date).
Notice of Federal Tax Liens must be re-filed after 10 years to retain priority as of the initial filing date. If the lien is not re-filed, it will self-release 30 days after the 10 years after the assessment, regardless of any extension or suspension of the collection statute of limitations.
The IRS has until 1 year pending the 30 days after the expiration of the ten years to refile the lien. It is very uncommon for the IRS to renew the federal tax liens.