A lien is not released until tax is paid in fill or an Offer In Compromise is accepted or tax abated. Furthermore a lien can expire 10 years from the date of the assessment (CSED-Expiration Dates). However it can be extended by many transactions such as Bankruptcy and Offer In Compromise. After the CSED expires, the IRS can't collect and the lien is self-released.
Any taxpayer owing more than $5 k dollars will have a lien placed upon their property. This will act as an encumbrance on all property rights, owned and acquired after the date of assessment.
If you have a lien placed on your property, or if you have IRS debt, Effectur has trained specialists (tax consultants) that can assists you on a variety of tax needs.
Sunday, February 3, 2008
Liens, The second part
Posted by Anonymous at 6:33 PM
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