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Video instructions and help with filling out and completing irs lien release after 10 years

Instructions and Help about irs lien release after 10 years

My name is Patrick Sheehan and I am a former IRS attorney what are the IRS statutes of limitation in my tax case you've heard about statutes of limitation and typically statutes of limitation refer to personal injury type cases say you slip and fall at the store you have a certain period of time to bring a lawsuit against the store the reason it's that way it's kind of a Fairness Doctrine people move memories fade documents are lost and so you have to do something within a certain period of time that's no different than in a tax case if you file a tax return the IRS has three years to audit you if those tax returns underreported your income by 25% then the IRS has six years to audit that tax return if you committed fraud on the tax return the IRS can audit that tax return at any time plus you can go to jail for that as well on the collection side the IRS has ten years to collect money from you so let's say you file your tax return on April 15th the IRS makes the assessment against you they have ten years to collect that money from you there are things that you can do to add to the ten-year statute you could file an offering compromise for example you can file a bankruptcy for example you can sign a waiver giving the IRS more time to collect money from you if any of those things occur that 10-year period is extended by virtue of whatever it is that you did in a recent case our tax payer owed $400,000 to the IRS we obtained internal documents from the IRS called transcripts of account that showed us that the statute alimentation a ten year period I was talking about was about to expire and so we just kind of hunker down for that 12-month period allowed the statute to expire and now our tax payer is free and clear of any liability to the IRS and we got the federal tax liens released to boot call us at 877 for IRS law you'll actually talk to a real lawyer who will answer your questions immediate call 877 for IRS law or visit our website at 877 for IRS law comm call us before the IRS calls you.

FAQ

Does an IRS tax lien on a property expire after 10 years?
Generally, yes. However, there are a number of situations or events that will extend the 10-year collection period. For example, a bankruptcy filing would suspend the running of the 10-years. Likewise, if you are out of the country for a period of time (over 6 months, I believe), the 10 years is out on hold. On the other hand, if the tax assessment is turned into a judgment, then the 10-year limit disappears.
What is the IRS form W-10 and how is it correctly filled out?
While you may have never heard of IRS Form W-10, you will if you’re currently paying or planning to pay someone to care for a child, dependent, or spouse? If you are, then you may qualify to claim what’s called the Child and Dependent Care credit on your federal income tax return. To claim this credit, your care provider must fill out a W-10. You may also need to fill out the form if you receive benefits from an employer sponsored dependent care plan.It’s certainly worth it to see if you qualify (and for this we recommend that you consult with a tax professional). The child and dependent care credit can be up to 35 percent of qualifying expenses, depending on adjusted gross income. For 2021. filers may use up to $3,000 of expenses paid in a year for one qualifying individual or $6,000 for two or more qualifying individuals. (When it comes time to figure your qualifying expenses, remember that they must be reduced by the amount of any dependent care benefits provided by your employer, if those benefits were deducted or excluded from your income.)Do You Qualify for the Credit?To see if you need to have your care provider fill out a W-10, first determine if you qualify for the credit for child and dependent care expenses. To qualify, the care must have been provided for one or more qualifying persons, generally a dependent child age 12 or younger when the care was provided. Certain other individuals, spouses and those who are incapable of self-care, may also be considered qualifying persons. (Note: each qualifying individual must be listed on your tax return.)Remember also that the amount you can claim as a credit is reduced as your income rises. According to the Tax Policy Center, “Families with income below $15,000 qualify for the 35 percent credit. That rate falls by 1 percentage point for each additional $2,000 of income (or part thereof) until it reaches 20 percent for families with income of $43,000 or more.”Next, consider why the care was provided. To qualify, the person (or couple, if married and filing jointly) claiming the credit must have sought care so they could work or search for employment. Further, the individual or couple filing must be considered earned income earners. Wages, salaries, tips, other taxable employee compensation, and net earnings from self-employment all qualify individuals as having earned income. For married filers, one spouse may be considered as having earned income if they were a full-time student, or if they were unable to care for themselves.Who did you pay for care? Qualifying funds spent for care cannot be paid to a filer’s spouse, a dependent of the filer, or to the filer’s child, unless that child will reach age 19 or older by the end of the year. (The rule for payments to the filer’s child does not change, even if the child is not the filer’s dependent.) Filers must identify care providers on their tax return.There are just a few more qualifying details. To qualify, filing status must be single, married filing jointly, head of household or qualifying widow(er) with a dependent child. The qualifying person must have lived with the person filing for over one half of the year. There are exceptions, for the birth or death of a qualifying person, and for children of divorced or separated parents.IRS Form W-10So, if you meet those criteria, then its time to make sure your care provider fills out a W-10. The form is simple to fill out, requiring only the provider’s name, address, signature and taxpayer identification number (usually their social security number). The form is only for your records, details about the provider will come when you fill out form 2441 for Child and Dependent Care Expenses.Source: The Child and Dependent Care Credit and IRS W-10 Form
Does the lien associated with back taxes go away with the taxes after the 10-year statute of limitations has run out?
It may, after exhaustive methods have been done to collect the unpaid taxes, up to and including seizure of property. If your Collection Statute Expiration Date (CSED) is near, the IRS may act aggressively to get you to pay as much as possible before the deadline or agree to extend it.If the period for collection has ended, there is a ten year statute of limitations on IRS collections. This means that the IRS can attempt to collect your unpaid taxes for up to ten years from the date they were assessed. Subject to some important exceptions, once the ten years are up, the IRS will stop its collection efforts. (In this case, the release is automatic.)Here are two publications which give excellent information about liens: https://www.irs.gov/pub/irs-pdf/... and Understanding a Federal Tax LienHope this information is helpful.
Where do you want to see yourself in 10 years?
New York. Preferably.Happy with my apartment. In NYC, I’ll probably be living in a tiny studio. That’s fine by me as long as it isn’t gross.Busy, happy, and successful with work. I want to be a producer and compose on the side. I want to be surrounded with music, always creating new spaces of sound, praised as a young innovator.Surrounded by people that support me. I hope I still talk to the best friends I have now, but I also want to know more people like them.Happily married. My parents got married young and, unlike a lot of couples, it’s worked out well for them. It’s probably not realistic of me to think I’ll be married to the man of my dreams within ten years, but that’s where I want to be.Childless. I love children? I want a small army of kids? Do not get me wrong? I just don’t want them so soon.All of this is extremely unrealistic. But the most unrealistic thing I want for 10 year future Emily?Debtless.I’ll give you a few minutes to laugh.A college grad? In New York City? With a husband instead of a roommate? And a small social life?Yeah, right.
How do people find a place to live and a job after being released from a 10+ year prison sentence?
I guess I’m not qualified to answer this‡ I only did four years.I passed through the sphincter that is the federal judicial system, so your experience may vary.Federal inmates usually go to a halfway house for some period of time prior to their actual “out” date.The halfway house I went to was in Kansas City, Missouri. It was a for-profit venture run by a company that manages many such facilities. So, your fresh and hopeful start for a new life will be managed by‡ the lowest bidder.I made a few recordings of the drunken reverie that was the halfway house. There were guys who came in so completely sloshed they couldn’t pass through a nice wide hallway without banging against each wall repeatedly.The staff was beyond caring. What is the minimum amount you need to do to avoid termination in your job? For these people it was less than that, I assure you. Their biggest roles should have been to help us find housing and employment, right?Uh huh. The woman who did the employment was one of the few that was actually working hard to find everyone a job. These weren’t great jobs, but‡ any port. The problem was that she was alone. She covered the federal side of the facility and the state side. If you got three minutes of her attention in a week, you were doing really well. I wound up being given the choice of mowing lawns, cooking fish, or washing cars. I’m way too pale to be in the sun all day (this used to be red hair and melanoma is a word that scares me to the core). I can’t stand the smell of fish (for some reason I acquaint it with my great-aunt’s time in a nursing home). So‡ I got to wash cars for minimum wage. Even though the halfway house earns a nice living with its government contract, it kept a quarter of our take-home pay from every check. That just slows down your savings for an apartment.There were usually no bus schedules available to the inmates. Even though I mentioned it several times to staff, there were no maps anywhere in the facility. How could you possibly know where the new job was if you couldn’t look at a map (preferably one with bus lines on it)? There was a poster about a jobs fair in the area, but that was evidently during the Nixon administration.Housing. I was given a list of landlords who supposedly rent to felons. The copy was a copy of a copy of a copy of a Sumerian clay tablet that may have been based on an older work. Bits of it were impossible to read. The bits that could be read were…. Well, here’s a conversation I had with a prospective landlord from the list:“Hi, I’m calling to find out if you have any apartments for rent.”“Why do you people keep calling here? This is a bakery.”The halfway house was just there to make money and it had no real interest in helping us start anew. They made extra off the GPS ankle monitors, so those were a high priority for staff.So, how do we find a place to live and a job? Friends. A friend helped me get an apartment. A friend referred me to a job just a bit better than the car wash. These friends‡ I met in prison.My experience isn’t typical in lots of ways. I still had a tiny little bit of money left from my old life. Not much, but it was enough to get me started. A couple of (non-prison) friends stored my things in their garage for the entire period of time I was away. Getting to keep my old car was a real head-start.It’s not easy. But former inmates helping the recently released is as real as it gets.**Edit. Thank you to Sarah Madden for tweaking my grammar and syntax. I can NOT believe that I used “it’s” instead of “its.” I am so very ashamed. :-/
How do I find out the amount of money owed on a lien for a car after buying? Does the previous owner need to sign anything for the title to be released?
Wait a minute here. You bought a car with a lien on it, and NOW you want to know how much the lien is for? Do you also walk around with a sign on your back that says “Kick me”?I would start with your local DMV which should be able to run the car’s VIN and report on all lien holders. The title is not going to be released until the car is clear of all liens. A signed bill of sale is not going to do it.I wish you well. People are notoriously unmotivated to pay debts for something they have just sold. And the lender is just as willing to repossess the car from your driveway as the previous owner’s.
How can I proceed to the Supreme Court after 9 years for filling out a petition?
I consider the 9 years as a judgement or order by the lower court.According to the Supreme Court Rules, 1966A petition need to be filed within 30 days from the date of the order or judgement.So,No. You can't file a petition after 9 years.
How do I fill out job applications after 25 years away from the workforce?
A standard chronological resume might not work well. However, if you have any volunteering you should definitely highlight what you've done recently. I would concentrate on getting a job in retail (which generally won't frown on your lack of recent experience). Try to go in person to a retail store and explain your situation to the manager, it will be easier to answer questions about the large gap in your history.If you have your heart set on office work, it may be a bit harder. You should focus on your hard and soft skills and how you've kept them current. Not many people will care if you had experience on an electric typewriter. If you have verifiable skills in Microsoft Office, you may want to consider getting tested or certified.