Understanding A federal Tax Lien


Over the course of time, certain items and negative data are reported to the several credit reporting agencies, one of which is a tax lien, filed of public record by the Internal Revenue Service.

A tax lien is the public record of the existence of a debt owing tot he Internal Revenue Service.  this document cal have a significant negative effect on your ability to secure a mortgage to buy a home or conduct business by accessing a line of credit.  It is the practice of the Revenue Service to file a lien to secure the debt and to further notify a taxpayer of the existence of a tax debt. once the lien is filed it is extremely difficult to have the public recording removed unless paid in full; however,with the assistance of Gregory C. McCarthy, it is possible to petition the Revenue Service to release the lien from property for the purpose of completing a sale or refinance.

It is not uncommon to have a tax lien continue to be reported on your credit report after it has been paid.  Since the Internal Revenue Service has a statutory time frame within which to collect a tax liability, it is important to contact Gregory C. McCarthy, so that the determination of the status of the statute of limitations can be determined.

Instructions for Form 8857 (09/2011)