I have a friend that I am helping with his credit. Only MAJOR problems are 2 VERY large tax leins. I am not at all familiar with tax liens. I think I remember seeing that they may be reported indefinately until paid, correct??? BC these are both from 11 years ago. And I do not think the traditional removing the addy and disputing will work bc the tradelines show his ss# IN the judgment. Could all chime in any experiences, thanx!!!!!
The tax liens are 11 years old? Unless he's done something to extend the SOL on Collecions (file a BK, Propose an Offer in Compromise, leave the country for more than 6 months at a time or agree in writing to extend it) then the Statute of Limitations on Collections has run out (IRC Section 6502). The IRS SOL is 10 years from assessment date. And if the SOL has run out, then by necessity the SOL for reporting has run out, since the SOL for reporting is only 7 years. Get a copy of the Lien and point out to the CRA that more than 7 years has elapsed since filing, so it should be suppressed.
Re: Re: How to deal with tax lien? Thank you SOOOO much for you're quick response, can you point me to somewhere that shows a 10 year SOL??? Much appreciated...
Re: Re: How to deal with tax lien? It shows like this: Lien filed 01/93 xxx County courthouse. case# xxxxx >his name</>his SS#< Amount $8032 class/city/county Government verified 01/93 Lein filed 04/92 xxx County courthouse case# xxxx >his name</ $40508 Class/city/county Government verified 04/92
Re: Re: Re: How to deal with tax lien? OOPS, I just reread you're post and saw that you did say where I can find it. I am unsure at this point what kind of tax lien i.e.; Federal, state, city it is. Is that going to make a difference?
Re: Re: Re: How to deal with tax lien? Get a copy of the Lien and point out to the CRA that more than 7 years has elapsed since filing, so it should be suppressed THE END ** *** ** LB 59
