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Tax Debt
Settlement
Tax Liens, IRS
Lien, IRS Levy, Tax Relief,
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What are IRS and
State Tax Liens and Levies?
Lien: This is a legal claim to your
property as security or collateral for
payment of tax debt. Basically, the
IRS is telling you your property is now
eligible to be seized and is being used
as a security for your debt.
If the IRS
files a Notice of Federal Tax Lien, all
your creditors are publicly notified.
Liens may occur when:
The IRS assesses your outstanding tax
liability.
The IRS sends you a Notice and Demand
for Payment in the amount owed.
You do not pay the entire
debt within 10 days after you are
notified.
If you have paid your taxes due or made
arrangements for payments within the 10
day time frame, then the IRS will
send you a release of the Notice of
Federal Tax Lien within 30 days.
Levy: Levies are a legal seizure
of your property to settle a tax debt. The IRS may
seize and sell any type of real or
personal property or investment that you own or have
interest in, This will happen if you did
not respond to a
Final Notice of Intent to Levy and
Notice of Your Right to a Hearing. These
documents are served in person to
your place of business, or to your last
known address by certified mail.
How does a judgment become a lien
against property?
A judgment attaches automatically as a
lien against the real property of the
judgment debtor, and continues as a lien
against the debtor's real property as
long as the judgment remains valid (up
to twenty years).
How to get a property lien released
To have a lien removed, you will need to
contact the party who placed the lien.
How to get a lien removed from your
title
The secured party or lein-holder is
required to file a release of security
interest or lien with the recorders
office. If they have not done so, the
clerk will return the title to you
asking that it be resubmitted with a
release of security interest or lien.
How to find out why a lien was filed
on property
In most cases liens are created as a
result of a lawsuit. Certified copies of
judgments, which affect title to real
property, may be recorded. Generally the
Registrar-Recorder/County Clerk serves
notification by mail to debtors when an
involuntary lien is recorded against
them. If you have received a copy of a
lien and have questions, you must
contact the person or agency that filed
the lien. In the case of a IRS lien you
will need to contact the IRS or your
accountant.
What is a Mechanic's Lien?
Mechanic's liens are a legal process
which seeks to guarantee payment for
contracted services rendered on an
improved piece of property. Depending on
the laws of any particular state,
contractors, subcontractors and
suppliers can file mechanic's liens
within a certain amount of time after
the work has been completed and payment
has not been received, generally 90
days. A mechanic's lien extends to both
the structure and the land beneath it.
Until the debt is paid, the landowner
does not own a clear title.
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