Procedurally Taxing: Revoking the Release of Federal Tax Lien (October 14, 2020)

Keith Fogg, in his Procedurally Taxing Blog article, discusses Webb v. IRS, No. 1:17-cv-00058 (S.D. Ind. 2020).

Taxpayers get a sad lesson in the ability of the federal tax lien both to survive bankruptcy and to come back to life after release.  This is not a story of foreclosure, though that chapter may still be written, but rather a story first of what bankruptcy can and cannot do with respect to tax liens (and liens in general) and second of the power of federal tax lien revocation.  When the dust settles, the taxpayers come out of bankruptcy with their discharge, including a discharge of the federal taxes at issue, but with a home (and any other assets they have) still encumbered by the federal tax lien.

To see the full article, click: “Revoking the Release of Federal Tax Lien”

To download the full opinion, click Webb v. IRS, No. 1:17-cv-00058 (S.D. Ind. 2020).

Posted by Elise Kim, Managing Associate Editor, Wealth Strategies Journal.