So, the question is, when you get a Tax Lien filed against you, how long will it stay there?

Does it stay your whole life? Does it stay a couple of years? Will the IRS pull taxes out from your estate when you die?

I hope by now, you aren’t running around trying to rack up Tax Liens on your properties. That would be a little counterproductive to what we want to accomplish!

There is a Statute of Limitation’s (I honestly thought it was statue for the longest time…Whoops…) that is placed upon your lien the moment it is placed against you, or the property. It does differ from state to state, but usually it is 7 years for paid tax liens and up to 15 years for unpaid liens on your credit score.

So after 7 years, the lien won’t appear on your credit report if its paid, and after 15 years it goes away if you haven’t paid it.

Remember, this does affect your future loan and credit related things, so don’t let it get too out of hand, or you won’t be able to get credit in any format.

As a rule of thumb, the IRS has 10 years after the assessment to collect the taxes placed on your. It can be extended or suspend though, depending on your circumstances financially.

So, essentially, don’t let your liens get too far from underneath you and your property.

Quick little blog post today, but I hope you caught something useful out of it 🙂