Owner's HUGE tax lien exceeds value of property - Posted by IB (NJ)

Posted by Randy on October 09, 2003 at 10:57:41:

The seller needs to make an ?Offer and Compromise? with the IRS. Yes it is possible to negotiate the tax lien to a lower settlement amount; this requires an attorney familiar with the process. It can be a lengthy process taking several months to complete.

Owner’s HUGE tax lien exceeds value of property - Posted by IB (NJ)

Posted by IB (NJ) on October 09, 2003 at 10:46:23:

I have a seller who has a $98k federal tax lien. In addition, his vacant lot probably has about $40k in back property taxes. The lot is only worth about $120k. The fed. tax lien has NOT exceeded the statue of limitations for this state so it’s still valid. Can it be negotiated?