How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 110443
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

What affect does a federal tax lien have on an IRS balance

This answer was rated:

What affect does a federal tax lien have on an IRS balance that is in excess of 10 years old ?
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

While the IRS will not sue over a debt that is more than 10 years old, they will place liens on property, which allows them to collect on the debts in the event the property is sold as they have a security interest in that property. The lien is valid for 20 years and they can renew it before that time.

I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.

Kindly remember the ONLY WAY experts receive any credit at all for spending time with customers is if you click on OK, GOOD or EXCELLENT SERVICE even though you have made a deposit or are a subscription customer. YOU MUST COMPLETE THE RATING FOR THE EXPERT TO RECEIVE ANY CREDIT, if not the site keeps your money on deposit.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.

This is NOT the practice of law nor is it legal advice to you, it is merely educational information for you to use to seek out a licensed attorney in your state to get actual legal advice from them. Please use sites such as or or to find a local attorney to get actual legal advice in all matters.
Customer: replied 2 years ago.

If they grant a payment in compromise to settle will they release the lien at that point ?

Thank you for your response.

Yes, if they agree to a payment in compromise, then they will issue a release of lien as part of that agreement.
Law Educator, Esq. and 2 other Business Law Specialists are ready to help you

Related Business Law Questions