Tax Lien

taxlien43Tax Lien Releases

Don’t let the IRS needlessly tie up your property with a tax lien. We can get liens released:

  • To refinance a mortgage
  • To sell property
  • After taxes have been paid or written off
  • To improve your credit

And we have the technical expertise to get it done.

Call us now to schedule your free consultaion – 972-385-8182


Tax Lien Withdrawal

It’s been a long-standing reality that federal tax liens can and do remain on your credit report for as long as it takes you to pay them, plus an additional seven years. They can remain that long because the Fair Credit Reporting Act — the law that defines how long negative items can remain on your credit reports — clearly allows it. In fact, unpaid tax liens can remain on your credit reports longer than any other negative item, even a bankruptcy.

IRS Taxpayer Advocate Nina Olson, says tax liens have been overused, and makes it harder for people to recover from economic setbacks. A tax lien is one of the worst things you can have on your credit report, so the sooner you expunge it, the better. Lien filings cause a taxpayer’s credit score to drop an average of 100 points, and can even effect a person’s livelihood when it comes to government licensing (think bankers, stock brokers, real estate agents, appraisers, etc).  Career people in those industries and are unemployed or under-employed and out looking for work in those sectors, wear the lien as a scarlet letter that impedes them from being hired back into those regulated industries. That’s the bad news.

The good news – The IRS recently announced a new policy that will result in tax liens being removed fromcredit reports and makes it easier for taxpayers with existing liens to get out from under them. The answer is a “lien withdrawal.”

Tax lien withdrawals – The Consumer Data Industry Association (CDIA), which is the trade association of the credit reporting agencies, has gone on record and confirmed that all three of the major credit reporting agencies (Equifax, Experian and TransUnion) will remove IRS tax liens that have been withdrawn.  Once the credit reporting agencies confirm withdrawal, they will delete the lien from your credit reports.

Client Benefit – Liens are considered seriously derogatory by most credit scoring systems, including FICO, so the removal of the lien could result in a significant increase in a person’s credit scores (assuming you don’t have other similarly negative items remaining). IRS policy doesn’t trickle down to the state level. That means if you have state tax liens on your credit reports, then you’re still subject to their brutal credit reporting rules.  A lien withdrawal is not a panacea for everyone with tax liens.  If there is other significant negative credit data that will still impact a person’s fico scores, but withdrawal of the lien is a big step and a significant improvement.  On the job front, job seekers will no longer have that mark on them, and should find it easier to find work in a regulated industry so they may continue in their career.

The lien withdrawal process could also open the door for many more bankruptcy candidates protecting their equity position in exempt assets that would normally be attached by the tax lien.  (TSG are not BK attys, but we can recommend experienced and knowledgeable bk attys if you are looking for one).

How long does the process take? Generally once the process is started it can take up to 6 months to complete the lien withdrawal process.

How to begin the lien withdrawal process? – Contact us TODAY!!!!!! We can set up a free initial consultation to prequalify a candidate and make sure they are able to fit into the program.  Once engaged we structure, implement, monitor, complete and verify the lien withdrawal process.  (We are building a website to help qualify candidates and streamline the process).

Call us now to schedule your free consultaion – 972-385-8182