What is a Federal Tax Lien on a Home?
A federal tax lien is one of many types of liens that can be placed against a home or property. A lien gives an entity legal claim to your property in the event that you do not pay a debt.Federal Tax LienAccording to the Internal Revenue Service, a Federal Tax Lien can only be placed on a home after “we assess the liability, send you a bill that tells you how much you owe in taxes and you neglect or refuse to fully pay the debt within 10 days after we notify you about it.”Notification of a LienThe government has five business days to notify you in writing that they have filed a lien. The notification can be left at your home or place of business, or it can be delivered in person.Releasing a LienThe lien is released within 30 days after you fully pay the debt or the government accepts a bond that guarantees payment of the debt.Withdrawal of a LienA lien can be withdrawn by the government for several reasons, including if they incorrectly filed the lien or an installment payment plan was
