bankruptcy tax lien

bankruptcy tax lien

Payment Plans

Sometimes, a taxpayer can not enjoy any of the usual tax breaks, such as offer in compensation (OIC), filing for bankruptcy or the statue of limitations expiration. This person, many times, still has a way to resolve their tax liability. The Internal Revenue Service has various types of payments Installment plans or arrangements that will be applied after the financial situation of the taxpayer. The IRS plans are:

  • Long-Term Installment Agreements
  • Installment Agreement on the specified accounts by balance
  • Guaranteed Installment Agreement
  • In Business Trust Fund Agreement
  • Optimized Installment Agreement

Tax Lien

A lien is a right to possession of assets to another person, up a debt that this person is discharged hold guilty. "Unfortunately, the IRS has the power to place a tax lien on a person's assets. After this is the IRS lien, that the creation of their assets. Usually, a lien may negatively on one's credit rating. A tax specialist, but ways to solve a lien can or find a tax, ie release including a lien, while adding another tax relief brought solution to the situation that the lien to be solved first.


The Internal Revenue Service can use money from your salary for any tax liability. This will be a wage garnishment. In this process, the IRS is part of your salary each time you paid and will continue to do so until the debt is paid. Persons who, at tax relief this situation will be stressful and they should hire a tax consultant to find ways of sharing their wages and develop other debt payment solutions.

About the Author:

Do you want to learn more about getting rid of your IRS and/or state tax problems? Visit us at our website for money-saving ideas and strategies. Over the years N.F. Centeno and partners have helped thousands of people with their IRS and state tax problems.

Article Source: ArticlesBase.comTax Relief – When There Seems to Be None

Equifax Deletions Dated July 23 2009 – (Chapter 7 Bankruptcy, State Tax Lien and Repo Deleted)

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