For many, a tax lien is only one much more black mark on their own credit history report and won’t ensure it is A lot worse. But you should respond to an IRS letter threatening a lien submitting by getting in contact with the IRS at the telephone quantity to the letter, or calling 800-829-1040, or calling the Taxpayer Advocate Service.
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(b) the lien will become unenforceable since the statute of limits for collections has run—usually 10 a long time once the tax was very first because of (Inner Revenue Code §6325(a)).
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Bankruptcy doesn’t wipe out a recorded tax lien. In the event your tax debts qualify for any discharge below any chapter of bankruptcy, the lien will continue to be, Even though your individual legal responsibility is wiped out. In case you owned any property going into bankruptcy, it remains to be subject matter towards the tax lien.
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