Ask Experts Questions for FREE Help!
 

Free Answers in 3 Easy Steps

Register Now
3 Steps
 


Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.
  Answer this Question    Ask about Taxes    Ask about another Subject  
 

jleagon
Apr 14, 2008, 11:05 AM
What does a lein on property mean exactly? What has to take place? Do you have to sign papers, etc? Please explain.

Janet Leagon
janetleagon@<hidden>

delite
Apr 14, 2008, 09:42 PM
liens on property indicates a party initiated an action wherein they attached their claim to a lien. to rid these liens you must track them down and meet with parties to try to remove the liens.an attorney could make quick worj of thes liens,

MukatA
Apr 14, 2008, 10:07 PM
The federal tax lien is a claim against your property, including property that you acquire after the lien is filed. By filing a Notice of Federal Tax Lien, the government establishes its interest in your property as a creditor in competition with other creditors in certain situations, such as bankruptcy proceedings or sales of real estate.

Once a lien is filed, it may appear on your credit report and it may harm your credit rating. Therefore, it is important that you work to resolve your tax liability as quickly as possible, before lien filing becomes necessary. Once a lien is filed, the IRS generally cannot issue a "Certificate of Release of Federal Tax Lien" until the taxes, penalties, interest, and recording fees are paid in full or the IRS may no longer legally collect the tax.