Can the IRS take your house for taxes owed?
Yes, they absolutely can. You would have to owe an awful lot for them to go to those measures, however. They will first try to get the money from you by other means. You can work something out with them before they take it that far, because, although they will take your house, they really do not want it, they just want their money. You can also hire an attorney to help you with this. There are attorneys who specialize in just this type of matter. If you are in this situation try not to lose sleep over it because there are ways to rectify the matter before it goes that far. Good luck.
Question on tax liens and selling home?
I have $57,000 in tax liens on my general homestead, I’m CNC, I am 43 and see no change in future RCP. I am behind on my house and listed it for sale, and filed an OIC in September on the 12th it was received, I plan to fund the offer with money from sale of house. I received an offer on my home for 165k, my loan balance is $55k. I can’t get the IRS to rush my OIC even tho the IRM says they will in these cases. My question is, I don’t know the balance they say I owe, a year and a half ago I believe they said $175,000. That was most penalties and interest. So, if my house goes through in next 30 days, and they haven’t agreed to my OIC yet, worst case is I pay the loan balance on house and the $57k in liens correct?
How do you find out if you have a tax lien?
My sister had her federal and state income tax refunds withheld supposedly from 1998 state taxes due. There is a statute of limitations on Md state taxes of 7 years unless there is a lien. She was never informed of a lien, has never had wages garnished and received both state and federal refunds last year. Anybody have any idea what could be going on and if it can be fought?
If someone doesn't pay taxes on their house, or car, can the government still take the property away even though it's fully paid for?
Yes, it's called government taking.Check out the Fifth and Fourteenth Amendments to the US constitution. It's repeated twice as it's that important to the future existence of the Federal government. Without government taking, there would be no way to enforce any property taxes. Yep, the government does not believe every tax payer will pay his property tax bills out of patriotic fervor or sense of civic duty. Who would have thought?As long as the government follows proper due process procedures, which were most recently refined under the landmark 2006 Supreme Court case of Jones v Flowers, it can take your property and sell it in order to pay off the delinquent property taxes. Each government jurisdiction has its own priority in the matter.So, let's say the Federal government confiscated your property and there was no redemption prior to sale. They can wipe out all claims, including state and local, until its claim is satisfied through the sale of the property. Or, if a county takes your house, they can wipe out any mortgage backed loan and most other liens, except for Federal liens as they always have priority. Then, after the property is sold, any excess proceeds can by claimed by any party with a valid interest.Now, this is only a general overview. Not only am I not a lawyer but also the statutes vary from state to state and the actual enforcement or interpretation of the statutes is up to the whims of the local authorities, who may or may not care about the law.So, as usual with any legal question, you need to contact a seasoned attorney to help you navigate the process if you are on the short end of the stick. Unfortunately, competent counsel is tough to find or qualify as this is a rather esoteric corner of law, surprising given how many billions of dollars in property is regularly taken around the country.
Lien holder on a house- how can I find the bank?
Online tax records are far from fully complete. If you want to find the current lienholder(s), you will need to visit the local register of deeds/land office in the county in which the property is located. The lienholder will be stated somewhere in the full property records. Meanwhile, if you are seeking this information in an attempt to purchase the house, don't waste your time. The huge majority of mortgage lenders will not deal directly with a potential buyer. Such properties are listed with real estate brokerage agencies for disposition.
What to do about tax lien notice?
My family has neglected property tax on our property and we have received a tax sale notice in the mail. The house is payed off we just owe unpaid property taxes. What is to happen on the date posted? What can be done to redeem our property and delay any seizure on delinquent taxes? Who or what agency do we contact for help on payment plans or advice? How long do we have ?
What happens if you buy a house that has a lien on it?
It depends on how you purchased the property. If you purchased it directly from the Seller, and did not have a title search done or receive a title policy at closing, you may be out of luck. If you purchased through a realtor, and / or did have a title policy issued at closing, the the title insurer is responsible for resolving the lien issue (that includes getting a release or paying it off). I managed an escrow company in California, and I always had the Buyer read an approve the title report, even if the sales contract didn't call for it. It was our office policy that we would not handle a transaction if the parties did not want to get title insurance. And, even if for some reason a Buyer wanted to purchase the property with the lien still on the property, we had them sign release instructions relieving us of all responsibility and liability. People are very quick to save money wherever they can; when dealing in real estate, paying a couple of hundred bucks to protect yourself is well worth the expense.
What does it mean to have a lien put against your house?
That means they are making a claim against your property to satisfy a debt. Generally, liens are given in exchange for money (e.g. a lien for a mortgage). However, governments can get liens for taxes. I assume it is a municiple sewer bill. The effect of a lien is that until it is removed you cannot give clean title to a buyer, effectively making it impossible to sell you house.
If I sell my house with a federal tax lien, will the IRS accept a partial payment?
Before selling or placing on the market, find a tax person who is good dealing with IRS. Your best bet is to try an Offer in Compromise. What ever you do have someone speak to IRS on your behalf their auditors are trained to listen and solicit information. Once they hear it, it is out of the bag and on the table. You will have to explain this to IRS exactly how much money you have to settle the debt.Not sure if the 25,000 is the amount of the lien or your cash at end of sale. Just a correction IRS will put a lien on any amount $5,000 and up.The only other thing I can suggest is see if your mortgagor will take a short buy down so you can pay it. That lien is a cloud on your title the buyer will not be able to get clear title and the sale will halt. I am on Linkedin if you have anymore questions.