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Let The Statute Of Limitations Expire

An Irs tax Lien will stay In effect until you either pay off the tax liabilites owed, can prove that you are incapable of satisfying the tax liability, or they have levied enough of your precious assets that makes any sale a guareented windfall of cash for them. One way to solve your problems is to let the statute of limitations expire which as stated by law is ten (10) years. The law states the IRS has 10 years to collect on all monies owed from the date of assessment. The downside to this is it will be on your credit forever unless you pay something to have it removed and if you do not live in a state with a homestead clause, the IRS can force a tax levy and sell your primary home and all your assets.

Set up A Payment Plan With The IRS

The IRS will accept a payment plan under the right conditions. The most common plan is an Installment Agreement, Once the Installment Plan is engaged the IRS will release all enforced tax liens. The one caveat is not to default on the installment plan because penalties and Intrest will be assessed. Offer in Compromise will also work to remove the tax lien but few taxpayers fit the profile to qualitfy under this statute. Another option that is rarely used is to appeal the lien, The IRS has 5 days after there filing to provide you with a written notice, that notice must include"Notice of Right to Request a Hearing". That hearing has to occur within 30 days preceeding the 6 day of the initial lien, If the IRS is found in default of any of these terms set forth, the lien will be withdrawn.