Notice of tax lien filing and certificate of release from irs?
May 10, 2009 in
Questions And Answers
I received a certified letter from the irs. One page has Notice of tax lien filing and your right to a hearing under irc 6320. And another page that says with respect to each assessment below unless notice of lien is refiled by the date in column(s) this notice shall constitute the certificate of release of lien as defined in IRC 6325(a). Can someone explain this in layman terms.
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One comment
wartz on May 10, 2009 at 8:59 am
You owe unpaid taxes and IRS has filed a Notice of Federal Tax Lien. This gives IRS priority rights against other creditors you might have. Think of it as being about the same as a notice of a court judgment being filed in the public records.
You have the right to a hearing with IRS Appeals if you feel the lien was filed in error. Unless there was a major league screw-up, you will have no case for that.
If you do not pay the tax covered by the lien, the statute of limitations allowing IRS to collect will ORDINARILY be 10 years from the date of assessment. This is the date on the first bill IRS sent you.
If the statute of limitations date is extended for any reason, IRS has to “refile” the lien by the date shown in column (e) of the form to keep its priority rights to your property. If it does not refile the lien, it automatically releases itself. There is no certificate of release filed, the lien just self-destructs.
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