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Lien and Levy Releases
A notice of federal tax lien is a public record that a business or individual has an outstanding tax liability to the Internal Revenue Service. The purpose of the federal tax lien is to secure the government's place with respect to other creditors. In addition to accomplishing that goal, the tax lien has a crippling effect on the taxpayer's ability to obtain financing for business operations, buy or sell real property, refinance a high interest rate mortgage, purchase an automobile, or obtain employment. In many cases the tax lien will even prevent the taxpayer from procuring funds to pay a portion of the tax liability.
When negotiating with the IRS on behalf of our clients we are always cognizant of the importance of avoiding a tax lien or, if the lien has already been filed, having that tax lien withdrawn. For example, businesses that have entered into a factoring arrangement can see their financing evaporate when a tax lien is filed. Our past success has been based on making credible and fact specific arguments to the IRS as to why a lien should not be filed. Moreover, our knowledge of the intricate procedures involved has been critical to our obtaining favorable results for our clients.
There are also situations in which the priority of the federal tax lien is not readily apparent and a formal legal opinion is required to clarify the issue. This especially true in cases effected by the U.S. Supreme Court's holding in Craft v. United States, in which the Court ruled that tenants by the entirety property (a person's residence) is no longer shielded from the tax lien.
The law and administrative procedures involving federal tax liens are highly technical and they should only be addressed by experienced counsel. At Frank Tax Law, we have experience in dealing with tax lien cases as officers of the IRS and as counsel for taxpayers. As a result, we are uniquely qualified to represent our clients in this convoluted area of the law.
Frank Tax Law Can Provide Guidance if:
- The IRS has filed a tax lien against you
- The IRS is threatening to file a tax lien against you as a precondition to an installment agreement or currently not collectible status
- The IRS is refusing to release its lien so you can refinance your real property
- You want to purchase a home, but there is a tax lien filed against you
- A tax lien is threatening to disrupt your company's financing arrangement
- You are considering purchasing or have already purchased real property with a tax lien filed against it
