If you owe the IRS, you are at risk of liens being filed against you and your property. Liens can affect your credit score and your ability to refinance your home. The good news is there are options to try and prevent liens from being filed. The key is to take action now and show the IRS you are trying to settle your tax debt.

 If you owe under $25,000 to the IRS and have not had a lien filed yet, you can have a tax attorney like Polston Tax set you up on an installment agreement called a Streamline Installment Agreement. A Streamline Installment Agreement will prevent the liens from ever being filed. You will full-pay your tax liability if you choose this option.

If you owe up to $50,000, you have the option to be placed on a Fresh Start Installment Agreement. A Fresh Start Installment will also prevent liens from being filed and also gives you the option to have any current liens withdrawn. If you owe more than $50,000 to the IRS, you may be unable to prevent a lien from being filed. However, there are also options to work around liens. Perhaps you are needing to refinance your home but the priority lien holder is the IRS instead of your lender. In this case, our office can request a Lien Subordination with the IRS to allow you to complete your refinance. If you are wanting to move and sell your home but there is a lien on your property, we can request a Lien Discharge for this property. This will allow you to sell your property, however if applicable, some proceeds would still be remitted to the IRS.

If you owe more than $50,000 and are currently on an installment agreement, once you pay the balance below $50,000, you may qualify for a Lien withdrawal to be submitted. One other option to get rid of liens that have been filed is by getting approved for an Offer in Compromise. Our office can prepare and submit this for you. If you qualify and get approved, liens will automatically be released after the offered amount is paid in full.

If you’re worried about liens being filed by the IRS, or need help settling your tax debt, our office can help! Our team of tax attorneys and accountants can help you get back on track. Call us today at 844-841-9857 or click below for a free consultation!