Good afternoon everyone I'm Bob Jablonski my firm is Bob Jablonski and associates we are located in Richardson Texas right outside of Dallas and we provide tax service help including tax preparation and planning and we specialize with IRS representation helping taxpayers who have tax problems we are today going to cover when you can get a loan on a property that is under an IRS lien subordinated by the IRS and so just to go through an overview this is one in a series the fourth in a series of videos on tax liens and in this one as I said we're going to cover real estate transactions and how to how to get the the property the loan on the property subordinated once a federal tax lien is filed and just the taxpayer taxi line is the federal government's legal claim to a taxpayers property and two things must have occurred one the tax must be assessed the ars can't be guessing at what a taxes or just hate and file tax return I'm gonna file a lien on that the tax must be assessed and notice must be given to the taxpayer and there's a few ways that you can find out if a taxpayer if an nftl has been filed you should have verse 4 received the form of 660 a why you can call the eros to confirm it or if you're someone like me who has access to it you can pull tax transcripts and you can as well as a taxpayer so what is the subordination of an IRS lien so once the IRS files a notice of federal tax lien against the taxpayer they're first in line and claims against the assets moving forward so for instance you know some people think...
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Irs subordination 14134 Form: What You Should Know
See Publication 1501 for more on this. Revenue Code Use Publication 1153. 1. Complete Form 14134. It is also required to send the application to IRS by mailing Form 2106 return to the address on page one of the Publication. Enforcing Subordination of a Tax Lien Taxpayers must keep a federal tax lien on property with a federal tax lien or the mortgage may be repossessed by a court or secured party. To enforce the subordination of this federal tax liens, Federal Tax Lien Subordination (CTS) is necessary. Subordination of Federal Tax Lien Subordination has two main goals: avoiding foreclosure and avoiding the bankruptcy of the secured party. The debtor is still liable for the mortgage. In addition, this Federal Tax Lien Subordination (CTS) allows federal tax liens on real estate to be discharged by bankruptcy. But first, federal tax liens must first be subordinated to a tax lien. Federal Tax Lien — Defined The term tax lien means any debt due to the United States, or any agency or instrumentality thereof, at any time as a result of the receipt of an amount that is specifically exempted, or which may be reasonably assumed to be exempt, from any tax. Such debt includes all forms of property tax (such as sales or use tax as well as property tax specifically applied to real property), personal property tax under the Internal Revenue Code and any debt for the collection of such tax imposed under any law administered by the Internal Revenue Service. It does not include the payments which are due to persons who receive income tax exemptions from the United States, or tax refunds. A lien does not include the interest chargeable on any debt secured by or including a mortgage on real property, the payment of which would constitute part of the rental value of such real property and is incidental to the lease or rental of such property. When a lien arises, the IRS issues a certificate of lien and sends the debtor a notice of lien. If no payment is received within 10 days of the date of the notice of lien, the lien is automatically converted to an administrative tax lien and the debt becomes a tax lien.
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