The optics of a tax lien are never good for financial advisors and wealth managers. That’s why it’s always in their best interest to resolve any tax liens with the IRS, as soon as possible.
On this week’s Ask An AdLaw Expert, we’re talking with Samantha DePrima, J.D., LL.M. about the important steps an advisor can take to remove liens and maintain a clean BrokerCheck record.
Expungement of any IRS liens is a critical step in the race to controlling your own narrative, and AdvisorLaw is uniquely positioned to help you. We have proven strategies for both resolving back taxes and expunging existing lien disclosures from financial advisors’ BrokerCheck®, CRD, and IAPD records.
Learn more about our Tax Lien Resolution services or contact us for a complimentary consultation:
So of course full payment is always going to be the best way to resolve the liabilities and remove the liens as quickly as possible. However, we understand that is not always a realistic option for people. The most important qualifications that need to be met are compliance with tax laws, including no missing tax returns and being up to date with your estimated payments in withholding. And then from there, an installment agreement that will satisfy the liability will be established based on your specific financial condition. Those are going to be necessary in order to get you to a place where the liens can be removed — which as we all know is very important in this industry, given the very public nature of the disclosure system on BrokerCheck. The optics of a tax lien are never a good thing for an advisor or wealth manager and so whatever can be done to limit the amount of time that those liens are on the public record is going to be beneficial.