What is a tax lien and how do I get rid of it?
A tax lien is a legal claim that the government places on a property to secure unpaid taxes. A tax lien can be placed by the federal government, state government or local government. The lien is placed on the property owner's title and grants the government a priority claim against the property in case of a sale or transfer of ownership.
If you have a tax lien on your property, there are several ways to get rid of it. One way is to pay off the tax debt in full. Once the debt is paid off, the government should release the lien. Another option is to negotiate a payment plan with the government. This would involve making regular payments towards the tax debt until it is paid off in full. Once the payments are complete, the government should release the lien.
In some cases, it may be possible to have the lien removed or discharged. This typically involves proving that the lien was improperly filed. For example, if the government did not follow proper procedures when filing the lien, it may be possible to have it removed. It may also be possible to have the lien discharged through bankruptcy.
It's important to note that a tax lien can have serious consequences for your credit score and your ability to sell or refinance your property. It's important to take action to resolve the lien as soon as possible.
If you're not sure how to proceed with a tax lien, it may be a good idea to seek the advice of a qualified attorney who can provide guidance and help you navigate the legal process.