Tax Lien Resolution in Longmont, CO

A tax lien occurs whenever delinquent taxes are owed on your real estate or personal property. Failure to pay your income tax and other taxes could expose you to this fate. A quick reminder: IRS delinquencies are avoidable, saving you from unwanted trouble and business continuity issues. Understanding how to resolve such standoffs could help avert crises. Here are insights into tax lien resolution:

  • Settle Your Tax Debt

    Settling your tax debt is the best way to eliminate tax liens on your property. This move forces the IRS to release your lien within 30 days from the day you pay your taxes. Often, you will be free to negotiate for a particular settlement figure if you cannot raise the entire amount. Writing off part of your tax debt after providing enough evidence against it will help reduce the burden on you.

    However, you must never ignore the case. You will also need to be realistic about your situation. These steps will ensure that the process is significantly smoother. While the IRS rarely forgives tax debts, extensive evidence could help get a different outcome for your case. At the same time, ensure that you handle the process by yourself if the debt is much lower than $10,000.

  • Property Discharge

    One of the other exceptional alternatives to paying off your tax debt is the discharging of property. This step implies that the IRS will remove the lien from the property and transfer it to the new owner. This step will also allow you to sell the property and refinance it. However, you must prove that you are willing to protect the interests of the IRS. You will also need to meet multiple qualifications. Remember, this discharge means that you will still owe the IRS.

  • Subordination

    Subordination implies that the IRS is giving up its priority to your property. This approach allows you to get a mortgage or loan against your property. However, it does not mean that the tax debt is canceled. Instead, it has been deemed not urgent, allowing you to live your everyday life.

Withdrawal

A withdrawal removes a public notice on your property. The idea is to show that the IRS is not contending with other creditors for your property. However, you will still be liable for the tax debt.

Undoubtedly, IRS or state tax delinquencies are no fun. The government hits hard when coming after its money, regardless of how it affects your business. At Integrity, we offer a variety of tax lien resolutions and GUARANTEE resolution or give you back your money. Visit Integrity Financial Associates, Inc. and kickstart your financial freedom today!

Contact us today at 303-485-1610 for more information about our tax services.