Tax Relief with Logan Allec, CPA
Do you owe back taxes to the IRS or your state government or have unfiled tax returns? Then this is the podcast for you! Every Monday, Wednesday, and Friday, Logan Allec, CPA — owner of A+ BBB-accredited tax resolution firm Choice Tax Relief — explains exactly how to get tax relief for your back tax debt. Would you like a FREE tax relief consultation with Logan's company, Choice Tax Relief? Schedule your consultation now by calling 866-8000-TAX!
Tax Relief with Logan Allec, CPA
IRS Tax Lien Explained: What It Means and 4 Ways to Deal With It
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
Owe the IRS or your state at least $10,000 in back taxes, or need to file multiple years of returns? Book a FREE consultation with Choice Tax Relief: call 866-8000-TAX or use the link below.
https://choicetaxrelief.com/free-tax-...
A federal tax lien is a legal claim against property. A Notice of Federal Tax Lien makes that claim public; a levy takes property. Logan Allec, CPA, explains Letter 3172, hearing rights, and four different approaches: release, discharge, subordination and withdrawal. These remedies serve different purposes and have different requirements.
CHAPTERS
00:00 Opening: Notice of Federal Tax Lien
01:33 What is a Notice of Federal Tax Lien?
03:08 Two things an NFTL tells you
05:00 Lien vs. Levy
06:08 What does the lien actually touch?
06:36 Credit reports and public records
08:19 Letter 3172 and the hearing deadline
09:43 Equivalent hearings
10:02 Four options: 1. Pay in full and release the lien
10:22 2. Discharge of specific property
11:18 3. Subordination
11:43 4. Withdrawal of the public notice
13:11 Payment plans and hardship: what does not remove a lien
14:17 Offer in Compromise
14:38 Collection statute expiration
15:21 Choosing your next step
17:00 Closing and free consultation
SOURCES
IRS: Understanding a federal tax lien: https://www.irs.gov/businesses/small-...
IRS filing determinations and criteria: https://www.irs.gov/irm/part5/irm_05-...
IRS Collection Process, Publication 594: https://www.irs.gov/pub/irs-pdf/p594.pdf
CDP and equivalent hearing rights: https://www.irs.gov/irm/part5/irm_05-...
Form 12153: https://www.irs.gov/pub/irs-pdf/f1215...
Release: Publication 1450: https://www.irs.gov/pub/irs-pdf/p1450...
Discharge: Publication 783 / Form 14135: https://www.irs.gov/pub/irs-pdf/p783.pdf
Subordination: Publication 784 / Form 14134: https://www.irs.gov/pub/irs-pdf/p784.pdf
Withdrawal requirements: https://www.irs.gov/irm/part5/irm_05-...
Form 12277: https://www.irs.gov/pub/irs-pdf/f1227...
IRS collection time limits: https://www.irs.gov/filing/time-irs-c...
CBS News article featuring Logan Allec: https://www.cbsnews.com/news/how-to-q...
RELATED WALKTHROUGHS
IRS bank levies: • Can the IRS Take Money Out of Your Bank Ac...
Form 12153 walkthrough: • Form 12153: How to Fill It Out Step by Ste...
Need help with back taxes or unfiled returns? Call Choice Tax Relief at 866-8000-TAX or book your FREE consultation:
https://choicetaxrelief.com/free-tax-...
#taxdebt #taxrelief #irs