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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 11157
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Tax lien as of 2012 is 48,091.00 the last date tax's were

Customer Question

tax lien as of 2012 is 48,091.00 the last date tax's were not paid was 2004 all tax filings sense are up to date & complete all refunds due sense were kept by the irs
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.

Hi,

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I hold a JD (Juris Doctorate, a doctoral degree in the law), concentration in Tax Law & Corporate law, an MBA (specialization in finance & tax), and BBA from Mercer University's Stetson School of Business and Economics, as well as CFP and CRPS designations. … I can help here

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Sounds like you've made it past the 10 year statute (if nothing such as OIC requests, etc that can toll the statutory period, have occurred).

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How can I help?

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I'll be here...let me know..

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Lane

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Expert:  Lane replied 1 year ago.

If your asking about getting the lien released, once the 10 year period HAS expired, the ien actually has language in it that self release ... (looks something like this):

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“IMPORTANT RELEASE INFORMATION: For each assessment listed below, unless the lien is refiled by the date given in column(e), this notice shall, on the day following such date, operate as a certificate of release as defined in IRC 6325(a).”

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If you'll look at the lien itself, column (d) gives you the date that IRS actuslly made its assessment against you; the day the collection statute began. Take the date in column (d) and add 10 years. That's the date the IRS collection statute should expire.

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But as I mentioned above, certain items can toll (stop the clock) while they take place ... such as the time while IRS is reviewing any Offer in Compromise you may hae made.

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Let me know your questions from here...

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Lane

Expert:  Lane replied 1 year ago.

Here's an EXCELLENT overview by an EXCELLENT Tax Attorney of the LIEN process and how refiliing CAN come into play, Doesn't necessarily, but you should have all the facts

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http://www.howardlevyirslawyer.com/2011/01/17/understanding-federal-tax-liens-how-they-work-when-they-expire-and-why-they-can-be-refiled/

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I hope this has helped, and again without more information, I'm kind of guessing at exactly what you're looking for.

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If this HAS helped, and you If you don't have additional questions on this, I would appreciate a positive rating (by clicking the stars on your screen) ... that's the only way I'll be credited with a portion of what you've paid JustAnswer.
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Lane

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Expert:  Lane replied 1 year ago.

Hi,

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I'm just checking back in to see how things are going.

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Did my answer help?

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Please let me know if you need more here

And if not, I'd appreciate a positive rating (using the stars on your screen). That's the only way JustAnswer will credit me with a portion of what you've paid them.

Thank you,

Lane

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Expert:  Lane replied 1 year ago.

Hi,

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Can I help more here?

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Let me know ...

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Lane

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