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How Serious Is The FTB 4921 Notice

the word debt written in a paper

Why You Received FTB 4921

FTB 4921 is a reminder that ignoring a notice from the FTB, not paying in full amount, or skipping a payment plan could result to this notice.

If you have outstanding tax debt, a statutory lien is automatically placed on all California real or personal property that you own or have rights to. 

If you fail to respond to the FTB’s notice, make full payment, or establish a payment plan, they may proceed to record and/or file a Notice of State Tax Lien (FTB 4921) against you. This action is taken to secure and protect the debt you owe and notifies creditors about the outstanding debt.

Obtaining financing or loans with a tax lien on your record can be challenging. Tax liens negatively impact your credit score and may make lenders hesitant to extend credit.

What You Need To Do with FTB 4921

The most expedient way to release a Notice of State Tax Lien is when you fully settle your liened tax debt, including interest, penalties, and fees. Once the payment is received and processed, the FTB will initiate the lien release process.

To achieve this, you have several payment options provided by the FTB:

  1. Bank Account (Web Pay): For the fastest payment processing, make separate payments for each tax year. Choose the "Bill" option from the drop-down list when making the payment.
  2. Credit Card: Make separate payments for each tax year using your credit card.
  3. Check, Money Order, Cashier’s Check: Send a single payment, ensuring that you specify the amounts allocated to each tax year on the payment or include a letter indicating the breakdown.

For businesses to engage in any business transactions or contracts, such as selling real property, it is crucial to maintain good standing status.

Don’t hesitate to get in touch with Priority Tax Relief right away if you need tax assistance or relief.

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FAQs

 The simple answer is no. A business and a person are completely separate, thus, any personal tax debts or liabilities should not affect your business.

Tax debt can be an exhausting and complicated thing to deal with on your own. Communicating with the IRS and professionally handling your tax liabilities are just two of the services companies like Priority Tax Relief can offer.

No. The IRS’s Innocent Spouse Relief protects you from paying these additional taxes. However, this does not relieve you from household employment taxes, business taxes, individual joint responsibility payments etc. Priority Tax Relief helps you learn more about innocent spouse relief.

The most popular option to date would be an Offer In Compromise (OIC). At Priority Tax Relief, we help tax relief help become more accessible to taxpayers in need and help them understand how they can qualify for these options.

IRS tax liens are legal claims on your property when you do not settle your tax debts. The IRS usually sends out a notice when no payment has been made after a liability assessment. Find out more about tax liens with Priority Tax Relief.

Yes. Not only can the IRS put a claim on all your current property, tax liens can also affect any property or intangible or tangible assets that you obtain in the future. At Priority Tax Relief, we help you understand federal tax liens and how to communicate with the IRS.

 

Tax levies are the actual seizure of your property and are different from legal claims or tax liens. Settle your taxes before the IRS sends out a notice. Priority Tax Relief helps you understand tax levies and how you can avoid them.

Yes. Not only can they seize physical property but they can also legally take hold of the money in your bank account and other wages. To avoid this from happening, contact Priority Tax Relief now.

Your debt will, unfortunately, continue to grow and you will possibly lose a great number of your assets. It is definitely a scenario we do not wish to see happen to anyone, that’s why Priority Tax Relief makes sure that our help becomes within reach.

Need expert help? Looking to get back on track?