Tax Lien

[ILLMAS]

TP has a tax lien, he has a investment property going on a short sale, TP wants for the IRS to take the money owed to them from the property if it sell. Will this happen once the property sells, I am afraid the bank will even lose more money + add on more taxes due from TP. Your thoughts. FYI TP has no money to pay.

[Catherine]

TP has a tax lien, he has a investment property going on a short sale, TP wants for the IRS to take the money owed to them from the property if it sell. Will this happen once the property sells, I am afraid the bank will even lose more money + add on more taxes due from TP. Your thoughts. FYI TP has no money to pay.

Ummm -- today is the National Day of Prayer. Does that help? (Sure can't hurt!)

[jainen]

>>TP wants for the IRS to take the money owed to them from the property<<

IRS generally doesn't like to that, for a number of good reasons. They might release their lien to allow a short sale, however, especially if the taxpayer owns other real estate. Tell the Realtor to work it out with Title Officer, or nobody will make any money on the sale at all.