The 2010 IRS Nationwide Tax Forum was nicely set up and had some great presentation speakers. Some of the highlights discussed from the forum: There were almost one million federal tax liens filed in 2009. The National Taxpayer Advocate's Office discovered that federal tax liens drop your credit score 100 points as soon as they are filed. The investigation also found that the three major reporting credit agencies, Experian, Equifax, and Transunion, do not remove tax liens for years, if at all, even after the tax has been paid. The Fair Credit Reporting Act allows the agencies to keep the lien on your credit report for up to 7 years after payment in full. Regardless of this Act for some reason the investigation found that Equifax keeps liens on your report for up to 15 years, Experian keeps the liens on your report for 10 years, and TransUnion indefinently! Federal Tax Lien filings went up 475% over the past 10 years. Bankruptcy on back taxes are dischargable in a bank
Nicholas Hartney, EA provides a valuable, cost-effective, professional and friendly tax representation service for all taxpayers who are ready to have their tax problems resolved.