Posted On: April 7, 2008 by Mitchell A. Port

Release of Lien Or Discharge Of Property

The Internal Revenue Service published final regulations related to the release of a Federal tax lien and discharge of property under sections 6325, 6503, and 7426 of the Internal Revenue Code. These regulations update existing regulations and contain procedures for processing a request made by a property owner for discharge of a Federal tax lien from his property under section 6325(b)(4).

These regulations are effective January 31, 2008 and apply to any release of lien or discharge of property that is requested after January 31, 2008.

Basis for Release of Lien:

1) Liability satisfied or unenforceable.

2) Bond accepted.

3) Certificate of release for a lien which has become legally unenforceable.

4) Satisfaction of tax liability.

5) Proof of full payment.

6) Notice of a Federal tax lien which lists multiple liabilities.

7) Taxpayer requests discharge of specific property from the lien.

If you have tax liens that should be released, call Mitchell A. Port.