IRS Tax Lien-someone's Gotta Know
will the IRS negotiate a settlement? would they release lien from the property for a partial payment, and collect (or at least try to) from homeowner?
will the IRS negotiate a settlement? would they release lien from the property for a partial payment, and collect (or at least try to) from homeowner?
Yes they will in some cases. But it's a long, arduous task. Check with your accountant.
Be careful and obtain professional and legal advice. The IRS is 'Big Brother' and you must protect your position in the investment.
Eric & Rosa
[addsig]
This is not first-hand information, but I've been told it is standard policy for tax liens to be cut in half just by asking the (IRS). And it could be more if you negotiate with them.
This might not be true, but it makes sense to me since the alternative is for them to lose everything in this case of foreclosure.