Tax Relief Blog
An IRS tax lien is a legal claim by the Internal Revenue Service (IRS) against a taxpayer’s property, including real estate, personal property, and financial assets, to secure payment of the taxpayer’s tax debt. If you have an IRS tax lien, you may be able to have it released or withdrawn by the IRS if you meet certain requirements.
Need tax help or professional representation? Call us today at 1-877-788-2937.
Here are the steps as to how to release or withdraw an IRS tax lien:
Pay the Tax Debt: The most straightforward way to have a tax lien released is to pay the tax debt in full. Once you have paid the debt, the IRS will release the lien within 30 days.
Enter into a Payment Agreement: If you are unable to pay the tax debt in full, you may be able to enter into a payment agreement with the IRS. A payment agreement allows you to make payments over time to satisfy the tax debt and can result in the release of the tax lien.
Request a Withdrawal of the Lien: If you have entered into a payment agreement or have paid the tax debt in full, you may be able to request a withdrawal of the lien. A withdrawal of the lien removes the public notice of the lien and can improve your credit standing.
Provide Evidence of Compliance: To have a tax lien released or withdrawn, you must provide the IRS with evidence of your compliance with the tax laws and any payment agreements. This may include providing updated financial information, tax returns, and payment records.
Submit Form 12277: To request a withdrawal of the lien, you must submit Form 12277, Application for Withdrawal, to the IRS. The form must be completed and submitted along with any required supporting documentation.
Wait for the IRS Decision: Once you have submitted the application for withdrawal, you will need to wait for the IRS to make a decision. The decision process can take several months, and the IRS may request additional information or documentation before making a determination.
In conclusion as to how to, releasing or withdrawing an IRS tax lien is a process that requires payment of the tax debt, compliance with the tax laws, and the submission of the appropriate forms and documentation. Make sure to enter into a payment agreement if necessary, provide evidence of compliance, submit Form 12277, and wait for the IRS decision. With the right approach and the right documentation, you can successfully navigate the process and have your IRS tax lien released or withdrawn by hiring a professional tax representation firm.
Need tax help or professional representation? Call us today at 1-877-788-2937.
