Posts Tagged ‘Income Tax’

Tax lien sale questions?

Friday, January 29th, 2010

can property be levied for income tax? or is it just property taxes?

If so, will the taxing agency attempt to collect through wage withholding first or will they try to secure the property first? is a lien on the property the last attempt to collect or their first?

say someone works for a payroll company and constantly gets tax levies from state and federal agencies and this person knows that there is no way the agency will be able to collect from the wages on this person. could this person doing the payroll then turn around and kind of have "insider information" on a potential upcoming property tax lien?

I’d assume this could probably be illegal but it was just a thought that occurred to me.
poster #2: i never said i was in the position to obtain this information. it was a thought i had that someone else COULD do it.

so take your KARMA and shove it. go judge someone else incorrectly.

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Can I sell a property that has a Income tax lien on it?

Friday, October 16th, 2009

I know that whatever profit there is on the sale would first go to the IRS toward the tax lien, but I am not sure how the tax lien will affect the sale. By the way, after selling the property the tax lien will not be totally paid off. All of the money from the sale will go toward the lien and it won’t be enough to pay the entire debt. Does that effect the sale?Will it take longer to close the deal? does the IRS have to sign off on it? How does it affect the marketing of the property and does it affect the buyer in any way?

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