QUESTION
What is a Certificate of Release of Federal Tax Lien?
Asked on May 04th, 2014 on Taxation - Missouri
More details to this question:
I owe taxes for years 2008, 2007, 2005, 2004 and 2003 and I have an installment agreement paying $150.00 a month. I received a certificate of release of federal tax lien for the tax period ending 12/31/2007. Does this mean that the IRS is dismissing what I owe for this particular tax year? And if so what about the earlier tax years 2005, 2004 and 2003?
1 ANSWER
Probate Attorney serving St. Louis, MO
at
Edward L. Armstrong, P.C.
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The release of a federal tax lien for a particular year is an indication that the IRS considers the debt for that years' taxes satisfied. If you pay off each of those years for which you owe federal taxes you should receive a notice of release. Remember that tax liens are recorded in the office of recorder of deeds for any county in which you own real estate.
Answered on May 14th, 2014 at 7:35 AM