Two additional withdrawal options resulted from the Commissioner’s 2011 Fresh Start initiative. According to IRS.gov, one option may allow withdrawal of your Notice of Federal Tax Lien after the lien’s release. Per the IRS, general eligibility includes: your tax liability has been satisfied and your lien has been released; you’re in compliance for the past three years in filing all individual returns, business returns, and information returns; and you’re current on your estimated tax payments and federal tax deposits, as applicable. The other option may allow withdrawal of your Notice of Federal Tax Lien if you have entered in or converted your regular installment agreement to a Direct Debit Installment Agreement (DDIA). According to IRS.gov, general eligibility includes: you are a qualifying taxpayer (e.g., individuals, businesses with income tax liability only, and out-of-business entities with any type of tax debt); you owe $25,000 or less (if you owe more than $25,000, you may pay down the balance to $25,000 prior to requesting withdrawal of the Notice of Federal Tax Lien) your DDIA must pay in full the amount you owe within 60 months or before the Collection Statute expires, whichever is earlier you are in full compliance with other filing and payment requirements you have made three consecutive direct debit payments you can’t have defaulted on your current, or any previous, DDIA
LIEN PRIORITY
A federal tax lien resulting from unpaid federal income tax
49
Powered by FlippingBook