If you failed to pay your tax debt to the Internal Revenue Service (IRS), a Notice of Federal Tax Lien may have been filed. This Notice serves to make your creditors aware of the tax debt that you owe the IRS. When such a Notice is in place, it may be difficult to use, sell, or refinance these assets effectively. Fortunately, there are options available to you in order to have this Notice removed. To apply for a withdrawal of the Notice of Federal Tax Lien, you must complete IRS Form 12277, Application for Withdrawal of Filed Form 668(Y), Notice of Federal Tax Lien.
Information Needed to Request a Withdrawal
Once you know which form must be filed, your next step is to fill in all of the requested information. In order to complete this form, you will need to provide the IRS with the following information:
- Your name, address, and phone number
- Your social security number
- A copy of the Notice of Federal Tax Lien
- If you do not have a copy of the Notice of Federal Tax Lien, the serial number of the Notice, the date it was filed, and the recording office where it was filed, to the extent available to you
- The current status of the federal tax lien
- Your reason for requesting the withdrawal, including supporting information to substantiate your request
Once you have filed the form, the IRS can notify other interested parties of its approval upon your request. This request must be sent in writing and it must include the names and addresses of the credit reporting agencies, financial institutions, or creditors that you would like the IRS to notify.
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