Steve Sims EA llc


Announcements and Updates

I need to sell but CA Franchise Tax Board (FTB) got a "lien on me"!

Trying to sell real property but the CA Franchise Tax Board has a lien on the property?  Proceeds from the sale will not be sufficient to settle the taxes due. You may still be able to complete the sale by requesting a "partial lien release".

A partial release of lien releases a state tax lien from a specific piece of property. However, the lien remains in effect and will encumber the transfer of title of any other properties owned or subsequently acquired by the taxpayer. Reasons to request a partial release of lien include: a need to transfer the rights to the property when there are insufficient funds to fully satisfy the state tax lien; or, the party with the lien has no rights to title of the property.

The requirements and procedures are very specific and must be followed in detail in order to obtain a timely resolution.  Time is usually a factor when there is a pending sale that needs to be completed within a short period.

Some times in our lives we may have liens, we may have levies and garnishments.  But if we are all wise, we know that there's always tomorrow!  Lean on me when you need more information.