Tax Lien Simplification Act - Amends the Internal Revenue Code to revise procedures for the filing of federal tax liens.
Direct the Secretary of the Treasury to: (1) establish and maintain a federal tax lien registry, in lieu of filing tax liens in local jurisdictions, which would be accessible to and searchable by the public through the Internet at no cost; (2) take appropriate steps to secure and prevent tampering with the data recorded in the registry; and (3) review the information in the registry to determine whether information in the registry should be excluded or protected from public viewing.
Establishes the priority of a federal tax lien based upon the date and time of the filing of a notice of lien in the federal tax lien registry.
Reduces the period for releasing satisfied or unenforceable tax liens from 30 to 20 days.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S4722-4724)
Read twice and referred to the Committee on Finance.
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