Many of the Taxpayer’s coming into our Richardson, TX tax office with IRS Debt have a Notice of Federal Tax Lien (NFTL) or are under threat of an NFTL. As you’ve learned over the past few weeks, the Notice of Federal Tax Lien (NFTL) is a powerful tool of the IRS and having an NFTL filed can wreak havoc over your finances and your life. Today we’ll cover the forms to have an IRS Tax Lien Withdrawn or Released.
Withdrawal of an IRS Tax Lien
One of the biggest benefits to Taxpayer’s of the 2012 Fresh Start Initiative, was that the IRS created an exception that permits a Taxpayer to request a withdrawal of the NFTL if the taxpayer who owes the IRS $25,000 or less and they enter into a Direct Debit Installment. Once the Taxpayer has made three consecutive monthly payments, they can request that the IRS withdraw the lien by filing Form 12277 properly.
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