Hey all just paid off my IRS OIC on my liens and was wondering where do I go to find out if the IRS has sent out a "Release or Withdrawal OF the liens would it be the county Court House I live in Ohio?
The IRS may send you a copy of the Lien Release. It could take a month or two from when you paid it to get the release in the mail. Best bet is to check the courthouse in the county as JLynn suggests to see when it was actually recorded
DAAAAAAAAA sorry guys was having a blond hair day I guess ..I checked one is released the other two are not so gonna go to my local IRS office and get the release of Liens from them and walk them over to the court house.....now how do I get the CRA's to remove them as being "withdrawn" rather them "released" any suggestions?
If you have paperwork that says "withdrawn", just send them a copy. I tried the OIC route, wasted four years. Filed a Ch7 BK and a few months later, my nightmare was over. Congrats on getting your OIC approved. EVERYTHING here on creditnet about your credit reports is a Piece Of Cake compared to the OIC process.
Best way to get your liens removed is to remove the addy's associated with the liens from each cra, then dispute as not mine.
Having just gone through a similar situation, make sure your OIC stated that lien would be "WITHDRAWN". Unless it specifies this in your OIC, then the IRS has the "right" (their words!) to report the lien, and keep it on your CRs. There is a "Request for Withdrawal of Federal Lien" form/process. I went through it this summer with no success, but others have had luck with it. If you need more info on this, let me know. I will post the IRS website for the instructions and form.
I just paid the OIC in 90 days and they didn't report squat. I called and verified. they said within 90 days total balance due they won't file squat. OIC is easy. You just need to get all your records together and do some fancy accounting.
Butch, I did my OIC myself, with "help" from the IRS revenu officer. I was self employed, under earning and raising two young kids where I had recently gotten custody. Lotsa pain and agony that led to my owing the taxes, but I was told since I was uncollectable an OIC made sense. OIC was turned down within a year, then appealed. Appeal took - and I"m not exaggerating - three more years. I was thankful for the "break" from the collection machine, but I was also interested in getting on w/my life. Starting in '98, I went on salary and paid all my taxes, so I would not repeat those mistakes. In '01 I sought professional help, since I did so poorly w/my previous OIC and I was in better shape, financially. This guy looked over my data and said he thought a Ch7 was a better choice - quicker, cleaner and zero chance of being turned down. I actually had great credit when I pulled the plug, really did not want to, but it sure did get the IRS and state tax collectors out of my life. For some people, an OIC is easy and straight forward. In my situation, because I was uncollectable, they did not want to "let go" of the possibility that I could make good money again. In the end, they were correct - but they did not see a penny of it in OIC. Butch, do you know anything about the discharge of taxes changing in the new BK laws? I heard way back in '01 that was part of the new bill.
Dan I heard the same thing that taxes were not going to be able to be discharged in the Bankruptcy laws don't know if is is true or not . ON my OIC its was fairly simple and easy made the offer on May 5, 2003 got all my info for my 433a form off the Internet how much for housing, car allowance, food and clothing allowances made the offer my self offered 850.00 as thats what I had my assets valued at they came back said my cars were worth more and would except 3,000 thats alot better then 23,000 as that was what they said I owed so I settled got their acceptance letter on 23 Oct 2003 had 90 days to pay it off. So in my case it was just a little over 6 months from start to finish and they are off my back they get to keep any refund that I get in 2004 for my 2003 taxes and then its done. I heard when I started it was gonna be 18 months but it was very quick for me.
A lot of it depends on how broke you are and are likely to remain. Some Doctors look at a patient and say "pfff, no sense in even trying CPR". lol One of the best ways to stop a lien is to convince the IRS that your future income potential is tied to your credit report, such as in the self employed. If you can convince them that the filing of a lien will be a detriment to your ability to pay, this is the strongest argument to avoid the lien. Also - as surely as there is a form for the extension of time to file, there's also and extension of time to "pay" a tax. Your IRS people will NOT tell you about this option. And most tax pro's, and even atty's, don't even know about it. Being considered in the new BK law is an adjustment to the dischargeability for IRS debt. Naturally it will be made more difficult. Glad things worked out for you guy's. .
If you're referring to the "magic" form the IRS likes people to sign that extends the SOL beyond ten years, yes, I've seen that form. I was told everything would "be easier" if I signed it. I said I'd take it home, look it over and get back to them. My mama raised me to be polite, but also not to be a fool.
Nope that's not the one Dan. I wish I could show you one but it's not on the net anywhere. They really don't want people to know about it.
The "extension" is determined by "ability to pay", this is done "informally" through a "settlement" agreement (if there is NO negoatiation over tax owed/fines/penalties/interest). YOU can basically set the time frame through your payment "agreement". There is a form for this, but it is generated AFTER your verbal agreement. The "Offer In Comprimise" differs slightly in that your are negotiating a lesser amount, there is more pressure on the "time factor" as part of your "ability to pay". In either case, you need to ensure that NOT reporting to CRs is WRITTEN into agreement. The IRS has wide leverage in this arena. It stipulates in these agreements that they "reserve" the right to report to CRs.
The "extension" is determined by "ability to pay", this is done "informally" through a "settlement" agreement (if there is NO negoatiation over tax owed/fines/penalties/interest). YOU can basically set the time frame through your payment "agreement". There is a form for this, but it is generated AFTER your verbal agreement. The "Offer In Comprimise" differs slightly in that your are negotiating a lesser amount, there is more pressure on the "time factor" as part of your "ability to pay". In either case, you need to ensure that NOT reporting to CRs is WRITTEN into agreement. The IRS has wide leverage in this arena. It stipulates in these agreements that they "reserve" the right to report to CRs.
Re: Re: Tax Lien Questions I found it: Form 1127 Application for an extension of time to pay a tax Withholds collection, freezes interest for 6 months. Has nothing to do with Installement Agreements, or OIC's. You do have to prove hardship tho.
4 Months ago I noticed an $8,000. Tax Lein on my Equifax Report. I disputed the item via Equifax online dispute. It Disappeared 35 days later..... H'mmm.... Best of Luck!
