Suddenly, your nightmare has become a reality – you owe the IRS money, and they’ve placed a lien on your property in order to recover those funds. They’ve sent notices informing you of the lien (or liens) and stated the reasons for these impending penalties. At this point, two different options are on the table – either you satisfy your debt and file to remove the lien, or for one of several very particular reasons, if the lien is not valid, then you must file to have it withdrawn or removed. In both cases, you need to seek professional help to file the proper forms and monitor the IRS’s responses. After all, tax lien removal is never as simple as it sounds. Confused as to next steps? Let’s start at the beginning.
Liens Versus Levies
What’s a tax lien versus a tax levy? The two are tools used by the IRS in order to collect funds from taxpayers who owe them money. However, there are some drastic differences between the two options. A tax lien is very much like a judgement. It’s public record, so anyone find out that you owe the IRS money once the lien if filed. It’s mainly there to let other creditors know that the IRS has claim against your property.