Tuesday Tax Tip

Federal Tax Levy Collection Actions in Detail (Part I)

Federal Tax Levy Collection Actions in Detail (Part I) Levy: A seizure of property While a federal tax lien is a legal claim against your property, a levy is a legal seizure that actually takes your property (such as your house or car) or your rights to property (such as your income, bank account, retirement […]
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Federal Tax Lien Collection Actions in Detail (Part VII)

Federal Tax Lien Collection Actions in Detail (Part VII) How to make the Federal Tax Lien secondary to other creditors (“subordination”) ? A “subordination” is where a creditor is allowed to move ahead of the government’s priority position. For example, if you’re trying to refinance a mortgage on your home, but aren’t able to because […]
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Federal Tax Lien Collection Actions in Detail (Part VI)

Federal Tax Lien Collection Actions in Detail (Part VI) How to apply for a “discharge” of a Federal Tax Lien from property? A “discharge” removes specific property from the federal tax lien. There are several circumstances under which a discharge may be granted. For example, the IRS may issue a Certificate of Discharge if you’re […]
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Federal Tax Lien Collection Actions in Detail (Part V)

Federal Tax Lien Collection Actions in Detail (Part V) What are reasons the IRS will “withdraw” a Federal Tax Lien? A “withdrawal” removes the Notice of Federal Tax Lien from public record. The withdrawal tells other creditors that the IRS is abandoning their lien priority. This doesn’t mean that the federal tax lien is released […]
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Federal Tax Lien Collection Actions in Detail (Part IV)

Federal Tax Lien Collection Actions in Detail (Part IV) What are reasons the IRS will “release” a Federal Tax Lien? A “release” of a Federal Tax Lien means that the IRS has cleared both the lien for your debt and the public Notice of Federal Tax Lien. The IRS does this by filing a Certificate […]
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Federal Tax Lien Collection Actions in Detail (Part III)

Federal Tax Lien Collection Actions in Detail (Part III) How to appeal a Notice of Federal Tax Lien? Within five business days of the first filing of the Notice of Federal Tax Lien for a specific debt, the IRS will send you a Notice of Federal Tax Lien Filing and Your Right to a Collection […]
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