Having the Internal Revenue Service put a tax lien on your property can be catastrophic – and it can prevent you from selling your property, even if you really need to do so.
But fortunately, you may be able to have the tax lien removed by requesting that the IRS withdraw it. You can also pay it off in full – but that usually takes more time and can still hold you back from selling your property as quickly as you’d like to.
Can You Get a Tax Lien Removed From Your Land So You Can Sell It?
If you want to ask the IRS to withdraw the tax lien against your property, you have to qualify. You can only qualify if:
- You currently owe $25,000 or less
- You have entered into a direct-debit installment program with the IRS, where the IRS takes payments out of your bank account
- You have made three direct-debit installment payments successfully
- You have not defaulted on a previous installment agreement
(Check out the IRS’s full list of qualifications here.)
Even if you qualify, you still have to apply to the IRS to ask them to withdraw the lien. You’ll have to fill out IRS Form 12277 and send it to the IRS by following the instructions on the form.
If the IRS approves the request, it will file a written record that the lien has been withdrawn. You can ask the IRS to also notify credit reporting agencies of the withdrawal, or you can notify them yourself and provide proof from the IRS.
You do not need to pay a credit repair service to do this on your behalf, no matter what one of these agencies tells you. This can be a completely DIY project.
Are You Buying a Home or Land for Sale in Lake City?
If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.
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