Dealing with a Tax Lien Placed on Your Property

Dealing with tax liens is certainly not something that you would want to be put through. It puts a lot of restrictions on your finances and, not to mention, it basically means you owe the government money, which is why they are collecting from you.

Should you find yourself in the most unfortunate situation of having a lien on your properties, know that an IRS attorney can help you deal with it more systematically and more strategically than if you were to deal with it on your own. As complex as it may seem, though, there are a few steps that you can take to resolve the matter--again with the help of your lawyer.

Getting Rid of the Lien on Your Property

The most effective way to get rid of the lien is to simply pay your tax debt in full. It’s easier said than done for most, of course, but the consolation there is that you can regain full control of your property in a matter of 30 days.

If you can’t pay in full, you can opt for the installment plan under the IRS Fresh Start Program. It’s going to take longer, but at least with every installment payment that you make, you know you’re a step closer to finally getting back what’s yours.

Other options include discharging the property or subordination, one where the taxpayers and other creditors are allowed to collect first than the IRS. However, this doesn’t necessarily remove the lien. Withdrawal simply means that the public Notice of Federal Tax Lien has been effectively removed, and that the IRS, instead of automatically calling dibs on you property, is also now vying for your property against your other creditors.