WIll IRS remove tax lien?


C

Cherrybounce

I have a tax lien from 1995 that has long since been paid
showing up on my credit report.

Should I write the IRS and ask them to send me documentation
that it has been paid? Is there any other way to prove
this? Is there an easier way to get in touch with them?

Cheryl D
 
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P

Phil Marti

Cherrybounce said:
I have a tax lien from 1995 that has long since been paid
showing up on my credit report.
Credit reporting agencies routinely miss satisfactions.
Your best bet is to go to the recording office, get a
certified copy of the release, and send that to the credit
reporter with a request to have the record updated.

It wouldn't hurt to check all reporting agencies.
 
D

David Woods, EA, ChFC, CLU

Cherrybounce said:
I have a tax lien from 1995 that has long since been paid
showing up on my credit report.

Should I write the IRS and ask them to send me documentation
that it has been paid? Is there any other way to prove
this? Is there an easier way to get in touch with them?
I would suggest that if you have an issue with what is on
your credit report, that you take it up with the credit
reporting agency. They have this feature called dispute.
 
L

Lanny Williams

Credit reporting agencies routinely miss satisfactions.
Your best bet is to go to the recording office, get a
certified copy of the release, and send that to the credit
reporter with a request to have the record updated.

It wouldn't hurt to check all reporting agencies.
The lien itself can remain on the credit report for 7 years.
Just paying off IRS will not remove the entry from the
credit report. However, the report should also show that the
lien was satisfied.

In reality, paying off the lien doesn't change the fact that
it was filed. Once satisfied, that information may, or may
not, be of interest to a potential creditor. Erasing the
lien would not give interested parties the true picture of a
persons credit history.

I believe the 7 year period runs from the date of the
release, not from the original lien date.

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans
 
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S

Seth Breidbart

Credit reporting agencies routinely miss satisfactions.
Your best bet is to go to the recording office, get a
certified copy of the release, and send that to the credit
reporter with a request to have the record updated.
Wouldn't it be easier just to challenge the item? Since it
was satisfied, the lienor isn't likely to reassert it, and
it will disappear.

Seth
 

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