If you have a Federal Tax Lien filed against you, TAXSHARK LLC can assist you in having the lien released.
To have a Federal Tax Lien released, you MUST pay your tax liability in full, inclusive of all applicable penalties and interest.
TAXSHARK LLC can also assist you in obtaining the following “Certificates” as regards the Federal Tax Lien:
- Certificate of Discharge of Federal Tax Lien
- Certificate of Subordination of Federal Tax Lien
- Certificate of Withdrawal of Federal Tax Lien
- Certificate of Non Attachment of Federal Tax Lien
A Federal Tax Lien is an encumbrance against real and/or personal property that arises upon an assessment (when the tax liability is "put on the books" against you) of a tax liability. This is also referred to as the "statutory lien" or "silent lien."
The Federal Tax Lien (statutory and paper filing) attaches to any and all property, real (land or anything affixed to land) or personal property (vehicles, furniture, jewelry, etc) that you own at the time of lien filing or any property that you may acquire during the lien's duration.
The normal lifespan of the Federal Tax Lien is ten (10) years from the date of assessment. In certain cases, the lien may be refiled for an additional ten (10) years, keeping the Internal Revenue Service's lien priority in place.
The filing of a "Notice of Federal Tax Lien", is the actual paper filing of the lien in the Secretary of State office (for a business) or in the County Clerk's office in the county where you reside (for an individual). This paper lien filing makes your debt to the Internal Revenue Service known to the public. Such paper filing of the Federal tax Lien will also appear on your credit report(s). When the lien is released, the release date is indicated on your credit report(s).
CERTIFICATE OF DISCHARGE OF FEDERAL TAX LIEN
The release of a particular piece of property (whether real, personal, intangible, intellectual, etc) from the effects of the Federal Tax Lien. The Federal tax Lien remains in effect against all of your other property during the duration of the lien's statute.
CERTIFICATE OF SUBORDINATION OF FEDERAL TAX LIEN
The Internal Revenue Service will subordinate its lien priority (position) if it will benefit the Internal Revenue Service monetarily. For example, you are able to obtain a home equity loan to pay a substantial amount of your tax liability; in this example the Internal Revenue Service would subordinate its lien position to the lender of the equity loan, who would then hold a priority position over the Internal Revenue Service and its Notice of Federal Tax Lien.
CERTIFICATE OF WITHDRAWAL OF FEDERAL TAX LIEN
There are certain specific instances where a Notice of Federal Tax Lien can be withdrawn as specified below and TAXSHARK LLC can assist you in the preparation and submission of the withdrawal documents to the Internal Revenue Service.
- if the Notice of Federal Tax Lien was filed and the automatic stay of bankruptcy was already in effect
- if the Notice of Federal Tax Lien was prematurely filed or otherwise not in accordance with Internal Revenue Service administrative procedures (i.e. The taxpayer had an approved Installment agreement where the non filing of a Notice of Tax Lien was a condition of the agreement)
- Withdrawal of the Notice of Federal Tax Lien will facilitate the collection of the tax liability
- with the consent of the National Taxpayer Advocate the withdrawal of the Notice of Federal Tax Lien would be in the best interests of the taxpayer
CERTIFICATE OF NON ATTACHMENT OF FEDERAL TAX LIEN
TAXSHARK LLC can assist you when a Notice of Federal Tax Lien has been filed against someone else, (a delinquent taxpayer) who has a similar name or otherwise to yours, and that Notice of Federal Tax Lien filing is adversely affecting or injuring you (i.e. Denial of credit, adverse accounts indicated on your credit report, etc) by the appearance that such lien attaches to your property