Posted by deborah on May 27, 2007 at 12:10:00:
i have a few tax state and 1 federal tax leins due to my ex husband and trouble he got in and being married to him at the timeand filing together i now have the liens on my credit report. please help
irs tax liens - Posted by alison ingram
Posted by alison ingram on October 21, 2006 at 14:06:09:
What are the implications when I short sale a property where the owner has irs tax liens? Owner owes more on the tax liens (800K+) than he owes on the property (715K).
Thanks
Re: irs tax liens - Posted by christine.mendenhall
Posted by christine.mendenhall on October 29, 2006 at 18:53:49:
You’re going to need both IRS publication 783, (that’s your instruction manual, don’t be nervous, it’s only 4 pages). And, you’ll need publication 8821 (that’s your authorization) Just follow the instructions and if you get stuck, use your authorization to obtain help from the IRS call center. I have found that I have the best results when I do a three-way call between myself, the seller and the IRS.
The process works like this, You fill out the paper work and submit it. The IRS will assess the documentation and establish their own value. Much like what the bank does with their shortsale package and BPO. From the small amount of info I have about your deal, if these are only federal liens, I think that you will be able to get them/it removed. I am guessing here that if they were not paying federal they were also not paying the real estate tax, and that is, or at least can become, the first lien holder, so as regards to that, you need to find out who bought those liens, if anyone, my guess is, there is, and negotiate with them. The trick here will be getting those people to respond. They are getting their money either way, and absolutely want those bills to go unpaid so they can foreclose and obtain the property for themselves; they will have no interest in helping you get it.
The process has taken as long as 4-6 weeks for me and as short as few days. Don’t ask me why, I don’t know and didn’t ask. 
I am surprised at the amount of the tax lien(s). Can you say more about the debt, how long has it been accruing and what is it made up of?
Re: irs tax liens - Posted by christine.mendenhall
Posted by christine.mendenhall on October 29, 2006 at 16:42:45:
I have some paper work that I have used in the past to have those tax leins removed from the property and attached to the owner exclusively. If you’ll send me an email I will send you the doc’s
The process works like this, You fill out the paper work and submit it. The IRS will do an appraisal on the property and assess if there is any room for them to get what is owed to them, Much like what the bank is doing with their BPO. It sounds like the answer here would be no, but just like the bank, they will do their own due diligence.
The process has taken as long as 4-6 weeks for me and as short as few days. Don’t ask me why, I don’t know and didn’t ask.
I am surprised at the amount of the tax lein. Can you say more about the debt, how long it has been accruing and what the debt was orginally connected to.
Thanks,
C
Re: irs tax liens - Posted by Bill H
Posted by Bill H on October 21, 2006 at 17:28:40:
IRS Tax liens will not go away simply because you desire them to. They stick like glue. You will own the property subject to the liens unless you make a deal with the IRS prior to taking ownership.
Good Luck,
Bill H