Chapter 7 and IRS lien question

[Titan999]

Hi,
I had a question I was hoping some of you could help me as my lawyer is out of town currently. I have an IRS lien with the tax years 2000 , 2002 and 2004 listed on it. The 2000 and 2002 have been paid off but I filed Ch7 no asset and listed 2004 and 2006 taxes on my bankruptcy. My lawyer says the 2004 will be discharged. My question is since the 2006 taxes are not listed on the lein, will the lien be realeased now after the discharge leaving me to pay my 2006 that were not listed o n the lien? Also the paralegal finds it odd that they filed a lien at all as I own no property and never have. Is this common?
Thanks

[HHM]

Welcome to your forum.

This thread should answer you question

http://www.bkforum.com/showthread.php?t=24853

[Titan999]

Thank you ,
I had actually read that but wasn't 100% sure how to interpet it. I do know that the attorney has or will ask for the value of the lien to be determined.
So if the lien is extinguished is that the same as released as it will stay on credit report 7 years or will that completely remove it?

[HHM]

If your concern is about your credit report, thats bad news, it stays there. The lien is an "event" that occured, thus, it stays. Remember, your credit report is really your "credit history", so true events stay.

If your concern is about actually having the lien removed from that property, that is the good news. If the lien has no value and the court makes that determination, then the lien must be released at where ever the liens is recorded.

[biotechsolution]

Thank you ,
I had actually read that but wasn't 100% sure how to interpet it. I do know that the attorney has or will ask for the value of the lien to be determined.
So if the lien is extinguished is that the same as released as it will stay on credit report 7 years or will that completely remove it?

remember also that a chapter 7 filing does not extinguish a lien. The lien will apply in the case of a tax to all your pre-petition assets. in theory the IRS could serve you with a levy post-discharge to take your exempt assets, including a 401K account.

more than likely the irs won't do anything with the lien because it covers the 2006 taxes. What you could do is once the IRS has closed your bk you could contact them to set up an installment agreeement and then have the lien released.