IRS Tax Lien On My Credit Report!

The IRS can and does file federal tax liens for tax debts over $10,000. We all know that federal or state tax liens on your credit report are not good for your credit score. Loan rates, insurance premiums, and probably more stuff than you can imagine are based upon your credit score. Nothing raises your banker's blood pressure like a tax lien. Federal tax liens are public information. In Miller County, Arkansas you can get a copy of your tax lien from the Miller County Circuit Clerk's office. In Bowie County, Texas a copy can be obtained from the Bowie County County Clerk's office. If the collection statue has expired, the federal tax lien is no longer enforceable and the debt is forgiven. This date is in column (e) on your federal tax lien unless you have extended the collection statue. Common ways to do this are by filing bankruptcy, timely filed collection due process requests (CDP), or offer in compromise. The federal tax lien can still appear on your credit report since it is what the IRS calls a self releasing lien as explained in Important Release Information on your federal tax lien. The way to show this lien is no longer valid is to get a manual release from the IRS lien release unit and file it at the county courthouse. Then forward a copy of the release to the credit reporting agencies. This will show the federal tax lien as no longer valid and should have positive financial consequences for you.  

Robby
Selph & Friday CPA
Phone: 903-792-0281
www.selphandfridaycpa.com
Email: rselphcpa@cableone.net

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