Dean Graziosi Explains All about IRS Federal Tax Lien

Federal tax lien is abclaim made by government on your property. The claim is made when you fail to pay

tax debt. The lien claimed by government, covers all of your property including real estate, financial

assets and personal property. Internal Revenue Service IRS covers process of lien.

How IRS Carries the Process of Tax Lien:

As stated above, IRS covers recovery of federal tax lien. IRS files a public document. This document is

called Notice of Federal Tax Lien. With the help of this document, IRS notifies the individual that the

property he owns holds debt to government. It also explains that the government has legal right over the

property.

Dean explains overall process of federal tax lien recovery by summarizing it in following points.

The IRS assess your liability

IRS sends you a notice or bill, also known as Notice and Demand for Payment

This notice contains information and amount that you owe to government

The notice also contain a critical note on your negligence and failure to pay the debt in time.

Before we further proceed with Federal Tax Lien and procedure of IRS, it is mandatory to introduce Dean

Graziosi first. Dean Graziosi is a millionaire, successful realtor and entrepreneur and is a famous public

figure. He is one of the most famous real estate business owners of America. Dean is not new to

American people; he is appearing in a famous infomercial series Motor Millions. He is appearing in this

infomercial since 1998.

Dean also conducts live events throughout country. He has a very generous heart. He supports a number

of charities including one for elderly, a charity for homeless people and providing gifts to orphans on

auspicious occasions like Christmas. Dean is a true and determined man who is serving people for more

than two decades. He knows all about real estate and keeps sharing his knowledge with novice, aspirants

as well as with successful realtors.

How to Get Rid of Federal Tax Lien:

The only way to get rid of the lien is to pay your complete debt on time. Once you have paid your full

lien, IRS will release your lien within 30 days after submission of the lien. However, in certain conditions

(conditions in favor of both government as well as taxpayer) there are other possible options as well.

Discharge of Property _ the seller or buyer can submit the property. The property is sold Free of

lien.

Subordination _ In this situation, the loan is not paid or forgiven. Instead, other creditors move

forward to give a loan or mortgage, of course on their own conditions and interest.

Withdrawal _ When you apply for a withdrawal, a public notice is issued. This notice makes it

clear that IRS is not competing with other creditors in order to give loan to a taxpayer.

How a Lien Affects You and Your Property:

A lien attaches and affects your property and assets in various ways. For instance, during the period a lien

is attached to all of your vehicles, securities and properties unless you pay it. It will also affect your future

purchases of any kind (vehicle or property). Apart from this, the situation may turn adverse when IRS

issues Notice of Federal Tax Lien against you. With the issuance of this notice, it will become hard for

you to get credit.

A lien also attaches to all of your business properties including business rights and receiving accounts.

The worst senior occurs when even after announcing or filing for a bankruptcy your Notice of Federal

Tax Lien remains intact.

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