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Irs Lien

An IRS lien, better known as a tax lien, is a lien put upon a property to ensure that the owner pays his or her taxes, either on the property or his or her delinquent income taxes. A lien is a type of security interest granted by the property owner to secure the payment of a debt. In the case of a tax lien, the debt is owed to the federal government, so the federal government has control of the lien. If payment is not made towards the debt, then the holder of the lien may choose to foreclose on the property and use the proceeds of the sale to repay the debt.

Fast Facts

  • In the United States, the IRS can impose a federal or state tax lien. The laws for state tax liens vary from state to state.
  • To have records of the lien, the taxpayer must request the "Certificate of Release of Federal Tax Lien" after the debt has been repaid.

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Results 1-5 of 55 for "irs lien"

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