After reading lots of posts in here, I think that I am going to throw out my OIC I was gonna file with the IRS I have 4 tax liens on my TU and EQ credit and three on my EX reports one in 1993, for 87-89 taxes (long story) and one in 1995 and 96 for my 93 and 94 taxes which I paid with the returns and they applied it to my old taxes and then filed a lien on me for them and now a new one in 2002 for what I have no Idea because they have been taking my refunds for the last 6 years and I have owed no new taxes! any help on that ? Also my question is should I contact the IRS and see if I can get the liens withdrawn due to the fact That I am paying them with my refunds and make arrangements to make monthly payments? I am in a land contract 2 years old and am paying 12% interest and have been offered a 6.95% payment if the liens are payed off, lowering my payment by $400 a month. any help will be appreciated.
The IRS will actually WITHDRAW the lien(s) for you, provided that you meet certain criteria (which are pretty easy to meet!). There's a publication you can view online at: http://www.irs.gov/pub/irs-regs/td8951.pdf Apparently, this is one of those little known facts about how the IRS will work with you. Hopefully this helps!
As far as getting the liens release it is unlikely the IRS will do that until they are paid. You can, however get an installment plan to pay them monthly. If you owe less than $10,000 and propose to pay them off in 3 years or less the Janitor at the IRS office has authority to approve it. Anything more and they may ask you to fill out Form 433-A,Collection Information Statement. I suggest you NOT fill out that form without checking with an Enrolled Agent who is knowledgeable and experienced in IRS Collections representation, because the 433A has enough information on it for the IRS to really make your life miserable if you can't make peace with them. As a point of interest, why would you withdraw an Offer in Compromise and propose full payment in its place unless your Offer showed you could pay anyway? I know OIC Memphis and OIC Brookhaven are very anal about processing them and the GS-6 clerks they have doing the job aren't really up to it, and they it takes about 9 to 12 months to get an answer. I suspect you need to talk with an EA more than you think. FYI, I am an EA who specializes in IRS Collection issues (no, I am not soliciting business - just saying this so you will know that I know w hat I am talking about in this area), and I have many succcessful OIC's behind me. I cannot think of a single good reason to file 433A without an OIC with it.
I want to thank Flyingifr, and Tr1252 for there posts being a newbie here I was looking for some info, to answer Flyingifr question I have not sent in my OIC yet so there is nothing to withdraw, after reading several posts on here and some other sights I was getting gun shy about sending in my OIC seems like no one gets there's excepted. After reading your post flyingifr I still might send it in its just I hate giving the IRS everything they need to just go and tap my checking account if my OIC is turned down even though they are getting money each year from me on my return, I have been told I can wipe out these taxes through chapter 7 bankruptcy but I am just getting my credit straightened out as it is and really don't want to go into chapter 7 or 13. anyway thanks for the response and I am beginning to get hooked on this sight.
FlyingFR.... FlyingFR, Thanks for the link!!! I have a $9000 Frederal Tax lien that I have been paying monthly on since January. I never went into a formal agreement, instead I wrote them a letter stating I would pay them $500 a month and they have left me alone. I really want tis tax lien removed and I wonder what would be the best way to approach them. I can pay them off entirely next month. I also want to know if I can settle for less with them. What do you suggest I do to possibly reduce the amount and get this removed? Thanks, Cas
