Question #1: What is the maximum value of the American opportunity tax credit?
You can claim the credit for up to $2,500 of qualifying tuition and related expenses. However, it can only be claimed for the first four years worth of post-secondary education.
Question #2: How do I remove a tax lien against my property?
A tax lien will lasts until your debt is paid off or otherwise satisfied.
The IRS will issue a Release of the Notice of Federal Tax Lien under the following criteria:
- Within thirty days after a taxpayer satisfies his or her tax liabilities (including interest and penalties) by paying the debt or having it adjusted.
- The taxpayer must pay all fees that a state or other jurisdiction charges to file and release the IRS tax lien. The fees are added to the total amount owed.
In a nutshell, you must resolve your liability before a tax lien will be removed. Click here to learn more about the tax debt resolution services offered by my law firm.