Selling Real Property with IRS Tax Liens.

Selling Real Property with IRS Tax Liens.

How to Remove these Tax Liens so Escrow will Close

Received a telephone call from a potential client who owes payroll taxes and individual taxes over $1,800,000.00.

Has real property investments of which he has an open escrow for one property in the amount of 1.5M. Yet, only has $600.000.00 equity. Wanted to do a 1031 exchange. However, he cannot do this type of exchange on real property that has a notice of federal tax lien recorded against it.

Any and all money that is available in a sale from escrow needs to be issued to the U.S. Treasury. The question is how to remove the tax lien while there is more tax debts and transfer the sale/title to new owner on this property? Easy answer for a tax resolution expert.

If you find yourself facing a similar situation with real property that is being sold and cannot close escrow due to tax liens that will not be paid in full. Call me at 323-344-2294 for free initial consultation.

Most escrow officers know how to get these types of liens off the record working in conjunction with the IRS Lien advisers. Then again, it is not the escrow officer’s job to get these types of issues resolved for the taxpayer.

That is why taxpayers need tax professionals that know how to process and utilize the correct IRS and State tax agencies procedures to resolve these types of tax lien problems.

Written by: Martha De la chaussee

Tax Resolution Expert