Thursday, April 20, 2017

HOW TO REMOVE TAX LIEN FROM YOUR CREDIT REPORT

A new tax lien policy recently approved by the IRS gives hope to many taxpayers plagued by the stigmas long attached to their negative credit reports. In this article, we’ll discuss how to remove tax lien from credit reports.
IRS TAX PROBLEMS? Get Affordable Tax Help
(800)790-8574
BBB A+ Accredited Business – Serving All 50 States.

New Tax Lien Policy

It’s a well-known fact that federal tax liens have a habit of sticking around on credit reports like the inevitable albatross around debtors’ necks for the entire time it takes to pay off the loan, plus an additional seven year penance (thank you Fair Credit Reporting Act!). Purgatory some may say, others indentured servitude, but the awful reality is they have been here to stay, no matter what way one looks at it.
Enter the new policy recently passed, announcing that federal tax liens are now approved for removal and will be erased from credit reports faster than any other detrimental issue. How? The process by which the IRS has termed “withdrawal.” Withdrawal occurs when the taxpayer’s lien is paid in full, OR the taxpayer signs up for a payment program that is scheduled for periodic installments until the account is up to date and closed.

How To Remove Tax Liens From Credit Reports?

Either of these scenarios can now result in the IRS formally withdrawing a tax lien, along with the stigma mark on one’s credit report. In order to achieve this, the taxpayer must make a formal request to the IRS (using IRS Form 12277, also known as Application for Withdrawal of Filed Form 668(y), Notice of Federal Lien). Once this request is filed, the IRS will return a form 10916(c), which is the magic word to open the door to cleared credit.
It is important to note that this new policy does not include tax liens held at the state levels. These liens will still be evident on your credit reports. Also not subject to complete withdrawal are tax settlements. Such settlements, commonly called “offers in compromise,” are present when a taxpayer and the IRS settle on terms of a lien where less than what is actually owed is considered adequate payment. Due to this not being an exact repayment in full, the IRS grants what they call a “release” rather than an actual withdrawal. As such, unfortunately, the credit report will still show such releases for a full seven years after the date paid.

A Win-Win

On all counts, it seems that this new policy is a win-win situation. The IRS benefits because debtors who may have normally attempted to settle their debts may now be more willing to step up to the plate to pay, since now such actions could help their credit. The taxpayers, obviously, reap the reward of having not having a black cloud of doom hanging over their credit reports when applying for credit in the future.
We are tax relief experts specializing in IRS back tax help, Installment Agreements, tax lien help, wage garnishment release, IRS Offer in Compromises and a whole lot more. Get a free consultation from an experienced tax relief expert today (800)790-8574 or visit www.advancetaxrelief.com

Other Ways to connect with us:
https://plus.google.com/+ADVANCETAXRELIEFLLCHouston

Thursday, April 13, 2017

WHEN THE IRS CAN TAKE YOUR PASSPORT - ADVANCE TAX RELIEF

Since late 2015, the IRS has had the power to use passports to collect tax debts. H.R.22 added new section 7345 to an already bloated tax code. The new provision is titled “Revocation or Denial of Passport in Case of Certain Tax Delinquencies.”
back-tax-passport-advance-tax-relief
That generally means if you owe more than $50,000 the IRS can't take your passport exactly, but it can tell the State Department to do so.
ADVANCE TAX RELIEF - Serving All 50 States www.advancetaxrelief.com
Section 7345 of the tax code isn't limited to criminal tax cases, or even cases where the IRS thinks you are trying to flee.
Recently, the IRS released new details on its website. If you have seriously delinquent tax debt, IRS can notify the State Department in a formal certification. The State Department generally will not issue or renew a passport after receiving a certification from the IRS.
The IRS website will be updated from time to time about such notices. With the arrival of new IRS rules, it is worth considering how you might hold onto your passport even if you owe the IRS.
A seriously delinquent tax debt is a key term. If you don’t have one, your passport is safe. So if you must owe, keep your debt below $50,000. But that includes penalties and interest, so beware. A $25,000 tax debt could eventually grow to $50,000. And be careful, once your tax debt is labeled 'seriously delinquent,' you paying it down to $49,999 may not help. The IRS will not reverse a certification because the taxpayer pays the debt below $50,000.
What if the tax debt was your spouse’s, and you are saddled with it because of joint tax returns? You might qualify for innocent spouse treatment. This is a separate big topic, and rules are complex. However, it's significant that the IRS can suspend collection efforts if you request innocent spouse relief (under IRC Section 6015). In fact, there are many taxpayer protections when it comes to IRS collections. One set of protections is collection due process hearings. If you make a timely request for a collection due process hearing in connection with a levy to collect the debt, you may at least buy time to work out a deal with the IRS.
Your problems have solutions – some are quick, some take longer than others and require more patience.  It may be a weight to carry, but you are not dishonest for making mistakes to the IRS and with your taxes.  You are only human.
"According to IRS I owed IRS over $82k, Advance Tax Relief was very helpful and gave me the sense of relief that I will get pass this and I did. We Settled for $2500" - J Morris
We are tax relief experts specializing in IRS back tax help, Installment Agreements, tax lien help, wage garnishment release, IRS Offer in Compromises and a whole lot more. Get a free consultation from an experienced tax relief expert today (800)790-8574 or visit www.advancetaxrelief.com
Other Ways to connect with us:

Monday, April 3, 2017

OWE THE IRS, DOES THAT MEAN YOU'RE A BAD PERSON?

Our clients have different backgrounds, different life experiences, and varying levels of education.

They have all found themselves – unintentionally – with IRS problems.

And they all are good people.

The reasons my clients are caught in the cross-hairs of the IRS is from life itself – divorce, addictions, business failures, money management, sometimes even the death of a loved one. Some of our clients amaze us at the skills they have in their trade, but – through no fault of their own – have problems with the IRS and their taxes.
child-tax-credit-advance-tax-relief


If you have IRS problems, I am willing to bet that you are not a bad person, or dishonest.  If you were, than you probably would not bother to even be reading this.  You want to make your life better, and move on from worrying if your bank accounts will be levied, or living without any bank accounts at all.

Your problems have solutions – some are quick, some take longer than others and require more patience.  It may be a weight to carry, but you are not dishonest for making mistakes to the IRS and with your taxes.  You are only human.

"According to IRS I owed IRS over $82k, Advance Tax Relief was very helpful and gave me the sense of relief that I will get pass this and I did. We Settled fo
r $2500" - J Morris

We are tax relief experts specializing in IRS back tax help, Installment Agreements, tax lien help, wage garnishment release, IRS Offer in Compromises and a whole lot more. Get a free consultation from an experienced tax relief expert today (800)790-8574 or visit www.advancetaxrelief.com