A Lien Withdrawal will remove the public notice of a Federal Tax Lien and ensure that the IRS is not competing with any other creditors regarding you or your business' property. However, you are still liable to pay the tax debt owed if the balances have not been paid in full.
Although the recording of Federal and State Tax Liens on personal credit reports changed in 2017 with the three major credit reporting agencies (Experian, Equifax, and TransUnion) mutually deciding to eliminate the inclusion of civil judgment records, tax liens still remain on reports pulled in relation to mortgage lending and on business credit bureau reports. There are two main options when it comes to submitting a Lien Withdrawal petition.
If you feel that you may be qualified to submit a Lien Withdrawal petition, talk to Golden Lion Tax Solutions today to discuss your options. Tax debt does not need to be scary, we are here to help guide you toward the best tax debt solutions for you or your business’ unique financial circumstances.
Disclaimer: There are requirements that must be satisfied in order to qualify for some of the tax solutions we discuss on our website. Not all of our services will be suitable for every client. Golden Lion Tax Solutions is here to help you find the most appropriate resolution strategy to fit your situation.