Online Free Federal Tax Lien Search By Name
In order to obtain a free federal tax lien search you can contact the IRS and see if they’ll send you an electronic copy. Many times they’ll charge a nominal fee for a certified copy. If you need a copy of your tax return the fee is $50. The easiest way to view your federal tax record is to use an online repository like SearchQuarry.com. You can search by name ( see links at bottom of post ) and quickly locate most anyone’s tax lien records. Currently we’re offering a 5 day free trial so you can get a free federal tax lien search without obligation.
Federal Tax Lien Definition
A tax lien establishes that the government has a monetary interest in a person’s possessions. All property that the recipient owns will be covered by the lien. This is not a demand by the government to surrender property or a notification that the government is coming to seize it.
Receiving a Federal Tax Lien
Receiving a tax lien can be unnerving. However, a tax lien is also a misunderstood document. Most citizens who get a lien are often unaware of exactly what a tax lien is and what it represents. This can cause fear and unease with the recipient. Understanding what a lien is and how to deal with it will reduce some of those fears.
The Effects of a Federal Tax Lien
Being the subject of a tax lien can cause many disruptions in the life of the recipient. The effects will last until the lien is satisfied or some arrangement is made with the government.
Assets that have had a lien placed on them can no longer be sold or used as collateral when trying to secure a loan. Until the lien is satisfied, any assets purchased will automatically be attached and subject to the lien requirements. Once the lien is filed, the subject’s ability to acquire credit may suffer. Furthermore, tax liens are not necessarily discharged through a bankruptcy. Business property is also subject to a lien and this can make running a business difficult.
Dealing with a Federal Tax Lien
The easiest way to deal with a lien is to not get it in the first place. The IRS goes through a specific set of steps when it believes a taxpayer owes the government. Unlike in the past, the IRS is willing to work with someone who is faced with a tax liability. Setting up a payment plan and keeping current with the payments will stop the government from taking any further action.
Once a tax lien has been filed and received, there are certain options that the taxpayer can request to lessen the burden. It is important to note that each option has eligibility requirements and that the government does not have to grant them.
A common choice for relief is referred to as the Discharge of Property. This will allow certain assets to be removed from the lien. The Subordination program allows other creditors to take priority over the government’s claims. This can help the taxpayer acquire credit.
Disputing a Federal Tax Lien
If you suspect you have a lien because of unpaid taxes then it’s a good idea to check. You can get a free federal tax lien search online in just moments. If you find out this is true and you want to dispute the federal tax lien then visit the IRS and see their Appeals Program.