IRS Notice Form 668(y)(c) Collections

The IRS uses Form 668(y)(c) to give notice to the world that a tax lien exists against your property. The lien attaches to all property, wherever and however situated.

This becomes a real problem for people who own real estate, especially when it is jointly owned with a spouse or more critically someone else.

There is a critical distention between a lien and a levy. A levy is the taking of something (wages, funds from a bank account, assets, etc) and a lien is a public notice that taxpayer owes a debt.

With a lien, the IRS will just wait until you attempt to sell. This means you’ll have to keep your property, if you can, until the tax debt is extinguished.

A lien is terrible for your credit rating and likely will remain in place for the full limitations time period.

The only ways to release a validly filed lien are: 1) Expiration of statute of limitations, 2) Acceptance & satisfaction of an Offer-of-Compromise or, 3) Successful completion of Chapter 7 bankruptcy, with taxes discharged.

General notice that a tax lien exists against your property

IRS Notice Form 668(y)(c) Collections

The IRS uses Form 668(y)(c) to give notice to the world that a tax lien exists against your property. The lien attaches to all property, wherever and however situated.

This becomes a real problem for people who own real estate, especially when it is jointly owned with a spouse or more critically someone else.

There is a critical distention between a lien and a levy. A levy is the taking of something (wages, funds from a bank account, assets, etc) and a lien is a public notice that taxpayer owes a debt.

With a lien, the IRS will just wait until you attempt to sell. This means you’ll have to keep your property, if you can, until the tax debt is extinguished.

A lien is terrible for your credit rating and likely will remain in place for the full limitations time period.

The only ways to release a validly filed lien are: 1) Expiration of statute of limitations, 2) Acceptance & satisfaction of an Offer-of-Compromise or, 3) Successful completion of Chapter 7 bankruptcy, with taxes discharged.

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What is my first step?

If you received a letter or notice, a decision has to be made. Do you feel confident to handle this situation on your own? If it is a simple issue and you already know the answer, call or write them. If the issue is more complicated, you need to hire a Certified Tax Resolution Specialist. The IRS or State will take full advantage of your lack of knowledge and experience.

What is Your Next Step?

The next step is to determine if the notice was sent in error. Do you have an outstanding tax liability? Do you have unfiled or incomplete returns?

Is There a Time Limit?

Yes, each letter or notice from the IRS or State will indicate a date that you MUST to contact them by. If you need more time, call the number on the notice or letter and request an extension. DO NOT ALLOW the time to expire without contacting them or hiring a representative to contact them for you.

What You Don’t Want to Do!

What you don’t want to do is nothing. Your tax problems will only get worse if you ignore them. If you cannot pay, there are a number of potential solutions available to those who are otherwise in compliance. In compliance means having all tax returns filed and any balances paid or on a payment plan. If you have outstanding debts or unfiled returns, you need to get hire a Certified Tax Resolution Specialist.

Get Some Help

If you don’t know how to address the issue(s), have unfiled return/unpaid balances or just done feel confident, let the experts at Legacy Tax & Resolution Services represent you. Work with our team of Certified Tax Resolution Specialists to resolve your issue(s) quickly. Best of all, you don’t have to talk to the IRS or State; we can speak on your behalf.

If you feel that you can handle this on you own but perhaps need some guidance, check out our DIY site for the

DIY Release an IRS Lien Guide

If you feel like you’re in over your head and need representation, check out the link below. There you will be able to reach out us for one of our Tax Resolution Specialists to take this burden off your hands

If you would like to engage our services, give us a call at 800-829-7483.