What Form 1094 B Taxpayers 2022-2023

Instructions and Help about What Form 1094 B Taxpayers

Hi my name is David miles I'm an enrolled agent with 2023 Tax Resolution today I'm going to discuss tax liens and securitization the IRS tax lien is the IRS's effort to secure its right title and interest in the property of a taxpayer that owes the IRS money there are two types of tax liens a statutory tax lien and a notice of federal tax lien the statutory tax lien is created automatically 10 days after the IRS makes a demand for payment and that romani remains unpaid the notice of federal tax lien however is a filing that the IRS must make usually at the county level two secure its interest against third-party creditors this is most commonly done in the example of property where the IRS must get in line with mortgage companies in addition the notice of federal tax lien can have a disastrous effect on taxpayer credit unfortunately a notice of federal tax lien once filed will not be released until the debt is paid in full there are now some exceptions to that as the IRS Commissioner has introduced the fresh start initiative if you have questions regarding tax liens or securitization contact an enrolled agent or other qualified tax professional to discuss it in more detail my name is David miles I'm with 2023 Tax Resolution and those are my thoughts on tax liens and securitization thank you for watching you.