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Q: The IRS has filed a tax lien against me. How do I get it released?
A: The IRS filed the tax lien to secure the IRS’ creditor interest in collecting unpaid taxes. The lien is subject to a 10-year statute of limitations. Outside of waiting 10 years, the IRS will generally only release a valid lien once the tax debt is fully paid. A tax lien hurts the taxpayer’s credit score and prevents many taxpayers from qualifying for a home mortgage. To help a current homeowner access his or her home equity to pay the tax debt, the IRS will subordinate the tax lien to the lender. Additionally, taxpayers with a tax lien will find it harder to sell their current house. The IRS will discharge a tax lien on a home if the taxpayer agrees to transfer the proceeds of the sale to the IRS to the extent of the lien.
Pontius Tax Law, PLLC strives to resolve sensitive tax problems through trust, dedication, and value. The law firm was founded by John Pontius with offices in Washington, DC, Maryland, and Virginia. Mr. Pontius is a tax law attorney who represents individual and business clients with sensitive and serious tax matters before the Internal Revenue Service and state taxing authorities. His client base is local, national, and international.