{"id":959,"date":"2020-08-17T06:00:40","date_gmt":"2020-08-17T10:00:40","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=959"},"modified":"2024-04-25T23:20:29","modified_gmt":"2024-04-26T03:20:29","slug":"the-tax-lien-cometh","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/the-tax-lien-cometh\/","title":{"rendered":"The Tax Lien Cometh"},"content":{"rendered":"\n

Back Taxes Can Impact Your Real Estate Title. Here\u2019s How to Deal With Them.<\/em><\/strong><\/p>\n\n\n\n

\"Historical<\/figure><\/div>\n\n\n\n

What happens when a taxpayer doesn\u2019t pay tax? If the\nInternal Revenue Service is slighted, it follows its age-old tradition and imposes\na tax lien on the person\u2019s property. Boats, financial accounts, the house \u2014 an\nIRS lien attaches to everything. And federal tax liens are resilient; they can\neven stay on the title through a homeowner\u2019s bankruptcy, if they were imposed\nbefore the bankruptcy was filed.<\/p>\n\n\n\n

With the lien, the government isn\u2019t actually taking the\nproperty. But if the homeowner wants to sell the property, the government will\ntake its cut from the sale proceeds. <\/p>\n\n\n\n

Concerned you might have a lien? You can check with the\nrecorder of deeds in the county where your home is, or review your debt records\non the IRS website. If you find yourself dealing with back taxes, find a way to\nmake good on the tax bill, or get the relief you need. <\/p>\n\n\n\n

Here, we delve into the most frequently asked questions\nabout the impact of a lien on a taxpayer\u2019s home title, and steps the homeowner\ncan take to keep that title clean.<\/p>\n\n\n\n\n\n\n\n

What Is the IRS Tax Lien Process? <\/h2>\n\n\n\n

If you owe $10,000 or more in back taxes to the Internal Revenue Service, you\u2019re at high risk of being flagged for a federal tax lien<\/a>. Go online to see how much you owe the IRS<\/a> and pay the balance or request an installment plan. If you take no steps to work out the bill, the IRS will soon deploy its debt collection process<\/a>:<\/p>\n\n\n\n