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Tax liens have issues as they pertain to property that you own. If the IRS has filed a tax lien, there is no process in a chapter 13 bankruptcy where that lien can be eliminated. The lien is valued as of the commencement of the case, and generally paid through the plan, so that the debtor emerges from bankruptcy entitled to a release of the lien for all taxes of record. The value of the lien that must be paid through the plan is the present value of the equity in the debtor’s assets to which the lien attaches.
In chapter 7 bankruptcy, the federal tax lien attaches to any equity in property you have as of the date of the filing. Most bankruptcy attorneys take the position that subsequent appreciation or increase in equity is not subject to the tax lien.
This brief summary is not intended to fully explain tax liens as they relate to properties you own. Only after consulting with a bankruptcy attorney, that we can refer, can you know specifically how your lien will be handled in your bankruptcy.
IRS Relief is only a phone call away.
Call and talk personally with Scott.
So what is a true testimonial? There are two types that you should only have confidence in.
The first is a letter from the IRS stating what the settlement was.
The second type of testimonial is to actually talk to a client that had a similar problem that we recently resolved.