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Video instructions and help with filling out and completing Irs tax lien sale of property

Instructions and Help about Irs tax lien sale of property

I have a federal tax lien and I'm trying to sell my house what do I do now that's a good question a federal tax lien can be a serious problem when buying or selling a house hi my name is Darrin mish and I'm a tax attorney with an international problem tax problem resolution practice based in Tampa Florida now this video is one of twenty videos and if you'd like to have access to the other 19 videos please visit our website at get IRS help videos com so what do you do in this situation well let me talk about the general rules first the general rules are the federal tax lien must be paid off first before you can actually convey your house and that's actually serving the purpose it was invented for and that's why Congress allows the IRS to file federal tax liens it to keep is to keep people from conveying their interest in real property and forcing them to pay off the federal tax lein before they sell their house now there are some exceptions to that to that general rule the first is the offer and compromise if you have an an offer and compromise accepted and paid then the IRS has 30 days after the the payment of the offering compromise to release the federal tax lien the second exception would be the collection statute of limitations if it has expired then the IRS again has 30 days from the date of the that from the date of this statute expiration date to release the tax lien that's really common it really commonly does not happen automatically and so then you would have to issue a request to the IRS to release this unenforceable lien and they have 30 days from the date of that request to do so as well now there's another exception if the lien is otherwise unenforceable and what a situation that comes to mind as there is a there's a date on the face of a federal tax lien it's in the third column from the left it says last it says last refiling date now if all of the last refiling dates have passed then that in the lien was never refiled then that lien is unenforceable on its face now does that mean that you don't owe the money anymore that you have no tax liability no it does not but it does mean that that tax lien is no longer enforceable so you could probably the IRS to release the tax lien in that instance and typically they will not refile because it would be in it would be against the law to refile on that situation now the tax lien can also be paid at the closing table if there's enough money to full pay the tax liability so let me give you an example if you owed $50,000 to the IRS and you are getting a hundred thousand dollars.

FAQ

How long does the IRS have redemption rights if a property sold at a tax sale had an IRS lien?
How long does the IRS have redemption rights if a property sold at a tax sale had an IRS lien? Does a tax lien supersede a mortgage? Are IRS payroll tax liens public record? If I buy a 100k house with 80k mortgage, and sell it immediately for only 60k, will the collection agency hound me for the other 20k? What You Need To Know About Tax Liens... Tax liens and tax levies are quite hectic if you owe any back taxes. Here’s what you need to know about these tax issues and how you can actually remove a tax lien from you... Is the IRS notified if a property with a tax lien changes hands? What should you know before you bid on a property at a tax sale? What do I need to know about the pre-foreclosure houses sales? Are they safe to buy? Tax Lien and Tax Levy - How to Get Rid of Them? Tax liens and levies put your assets at risk and to remove them you will need to work with the IRS to pay your back taxes. These are serious business if you owe back taxes....
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