A tax lien can be a burden. If you have a tax lien, then you may have problems selling your property or getting credit. The good news is that tax liens can be removed. Below are some of the steps that you will have to take to remove IRS tax lien:
Determine If You Qualify
You will need to determine if you qualify to have your tax lien removed. If your lien has been released because you have already paid what you owe, then you may be able to get it removed. However, even if you have not paid your entire tax debt, you may still be able to get it removed. If you owe $25,000 or less and have agreed to a direct debt installment, then you may be able to get the tax lien removed.
A direct debit installment is where the payments are automatically drafted from your account. There are other requirements that need to be met, such as successfully making three payments and not defaulting on another installment agreement.
You may also be able to remove IRS tax lien if you have filed your business and individual tax returns for the past three years. Additionally, if you are current on your federal tax deposits and estimated tax payments, then you may be able to get the tax lien removed.
Send An Application To Get The Lien Removed
If you believe that you qualify, then you can send in an application to get the lien removed. You will need to complete the IRS Form 12277. It is very simple to fill out and is only one page long. After you have complete this application, you will need to send it to the IRS. If your request is approved by the IRS, then you
will get a document saying that the tax lien has been removed.
Keep in mind that getting negative information, such as tax liens. removed from your credit report can help boost your score. That is why you may want to ask the IRS to notify the credit bureaus of the withdrawal. You can also send the notice to the credit bureaus yourself.
Once your request has been processed by the credit bureaus, it will be removed from your records. Your credit scores will be improved. You do not have to pay a credit repair firm for this. You can do it yourself.
A tax lien does not have to ruin your life because you can get it removed. First and foremost, you will need to determine if you qualify for getting a tax lien removed. There are several requirements that must be met. If you are eligible, you will need to submit the necessary forms to the IRS. They will notify you when they make their decision.
While it is possible to remove a tax lien on your own it it highly recommended that you retain a qualified tax attorney to remove the lien. The tax laws are complex, change every year and any mistake will possibly make your IRS problems worse. Only a trained and experienced attorney should be trusted with dealing with the IRS as their collection agents will attempt any means to gather information that may result in more money owed.
The Law Office of Mary King has locations in Sarasota Florida and Punta Gorda Florida and serves the entire southwest Florida area. If you are dealing with a tax lien or other tax debt problem Attorney Mary King can help get relief from the IRS. Contact Mary today to get started.