For those who owe tax debt, it’s possible that the IRS will place a tax lien on their property. Whether you currently have a lien on your property, have received notice from the IRS that they will be placing a lien on your property, or are concerned about this possibility in the future, there are a few things you can do. These include tax lien discharges, tax lien subordination, and tax lien withdrawal. A tax lien withdrawal removes the lien notice from your property. For those who are worried about potential problems with securing a loan or opening a new line of credit, a tax lien withdrawal can help. Learn more about getting a tax lien withdrawn by contacting Solvent Tax Relief at 800.985.9426 today.
What Is a Tax Lien Withdrawal?
A tax lien withdrawal removes a lien notice and does not leave a trace on your public record. While a tax lien withdrawal does not actually remove the lien itself from your property, it removes the lien from the public record as if it was never there. This means that the lien will not appear on credit reports and will not impact your ability to get a loan in the future. Through a tax lien withdrawal, the IRS is no longer competing with other creditors for your property.
If you qualify for a tax lien withdrawal, you are still liable for the tax debt. Paying your tax debt in full is still the easiest way to remove a lien from your property. This is called a tax lien release. Through a release, the tax lien is still on your credit report even though it is no longer attached to your property.
How Can You Qualify for a Tax Lien Withdrawal?
There are several ways to qualify for a tax lien withdrawal. While professional tax relief services at Solvent Tax Relief can help you understand whether or not you qualify, if the following apply, you may be eligible:
- You have satisfied your tax liability, which means that you’ve paid your debt in full
- The IRS made a mistake when filing the notice
- Removing the notice of the tax lien will make it easier for the IRS to collect payment
- You are current on your tax returns for the last 3 years
- You owe less than $25,000
- You have made three consecutive direct debit payments
In order to request a tax lien withdrawal, you’ll want to reach out to a professional tax relief service. A tax professional will collect all of the necessary information and file the forms on your behalf. It can be helpful for them to have a full understanding of your specific circumstances. A tax lien withdrawal might be the solution you need to resolve your tax debt quickly.
Contact Solvent Tax Relief Today
At Solvent Tax Relief, we work to resolve tax debt issues on behalf of our clients. Communicating with the IRS can be complicated. You might worry about filling out the wrong form, providing incorrect information, or overlooking a potential avenue to settle your tax debt. If you have received a notice that a lien is being placed on your property, reach out to Solvent Tax Relief right away. We can work to either remove the lien entirely or ask for a tax lien withdrawal, which will remove the notice from public record. In addition to tax lien withdrawal services, we can help with all of the following:
- Tax resolution services
- Tax consultation services
- Tax negotiation services
- Tax preparation services
- Tax settlement services
- Audit representation
Don’t hesitate to reach out to Solvent Tax Relief. Our tax professionals are ready to learn more about your specific situation and help you break free from tax debt. Contact us at 800.985.9426 today.