Glossary

A tax lien release is an official document from the IRS or a state tax agency confirming that a tax debt has been paid, and the lien on your property is removed. It’s a crucial step in resolving tax issues and clearing your property title.

A withdrawal of lien is when the IRS releases its public claim against your property for unpaid taxes. It’s a good thing and means you've satisfied your tax debt.

A discharge of lien is the official release of a legal claim against your property, often occurring after a debt like a tax liability is fully paid. It signifies that the creditor no longer has rights to your property due to the debt.

Bankruptcy can impact tax liens, but it doesn’t automatically eliminate them. Understanding how these two interact is crucial for managing your finances and protecting your property.

A Taxpayer Identification Number (TIN) is essentially your unique ID number with the IRS, like a social security number but for tax purposes, and it's vital for filing taxes and other financial transactions.

The Taxpayer Advocate Service (TAS) is an independent organization within the IRS that helps taxpayers who are experiencing problems with the IRS. They offer free help to individuals and businesses facing difficulties.

An abstract of judgment is a public record that creates a lien against a debtor's property. It's a legal tool used to collect on debts, including tax debts.

An involuntary lien is a claim against your property that's placed by someone else, often due to unpaid debt or taxes. It means someone other than you has a legal right to your property to cover a debt.

A voluntary lien is a legal claim placed on your property or asset with your consent, typically as security for a loan. It allows a lender to seize the asset if you fail to repay the debt.

A judgment lien is a legal claim against your property when you lose a lawsuit. It's essentially a way for the person you owe money to get paid.