Form 668(Y): Notice of Federal Tax Lien
The IRS will almost always file a Federal Tax Lien against you if you have unpaid taxes that have not properly been addressed. The IRS will file this lien to put on notice to other creditors that you may owe money to that the United States Government has a claim against all property of the taxpayer. Even if you do not own any property, the IRS will still attach this lien to your SSN as indication that you owe them money and to protect their ability to collect against you.
If you owe less than $25,000 to the IRS and allow us to successfully negotiate a payment plan that will satisfy the balance in full over time, we can file for a Withdrawal of Federal Tax Lien once probationary payments have been made. Otherwise, this lien will not go away until the balance is paid or forgiveness is granted and you are relieved of the balances through Offer In Compromise, 10-Year Collection Statute Expiration, or other method pertaining to your particular case.
Form 668 (Y) Notice of Tax Lien (Example)
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Form 10916: Withdrawal of Filed Notice of Federal Tax Lien
The IRS has a process by which we can successfully “withdraw” a Notice of Federal Tax Lien even if you still have a balance due (see Form 668 (Y) above). If proper steps are taken and the IRS does issue the Withdrawal of Federal Tax Lien, then it is as if the Lien was never filed. This can be extremely beneficial when conducting credit repair or in process of purchasing/selling of assets and the lien has interfered with your ability to do so. In 2011, the IRS expanded the situations in which a taxpayer can get a tax lien withdrawn and to help prevent a taxpayers purchasing ability. Also, as of 2011, it was announced the Credit Reporting Agencies would remove a tax lien from a credit report if the IRS has agreed to withdraw it. Through this method you no longer have to wait 7 years to have a lien off of your credit report. Let’s discuss your issues and see if you qualify for a Withdrawal of Federal Tax Lien!
Form 10916 Withdrawal of Tax Lien (Example)
Form 668 (Z): Certificate of Release of Federal Tax Lien
Section 6325(a) of the Internal Revenue Code enables us to negotiate for a release of Federal Tax Lien after a liability becomes fully paid or legally unenforceable. Once a balance on account effectively runs its 10-Year Collection Statute, we can not only write-off the balance due but can also obtain this Certificate of Release of Federal Tax Lien that you can provide to any credit bureaus, County Recorders, or lenders who still have this lien on file as being attached to you.