Sunday, January 17, 2016

IS THERE PROPERTY THAT A TAX LIEN DOES NOT STOP YOU FROM SELLING? ADVANCE TAX RELIEF LLC

The general rule is that a Federal tax lien attaches to all of your property. But there are exceptions – known as “super priorities” – situations in which you can sell your property even though the IRS has filed a tax lien against you.
The tax code will allow you to sell your car to a buyer who does not know of the tax lien. And most buyers of cars would not have knowledge of a Federal tax lien against you because a tax lien is filed with your local county recorder or clerk of court – it is not noted on your car title, as would a bank loan.



Your buyer’s knowledge of the lien is important because Internal Revenue Code 6323(b)(2) prevents tax liens from interfering with the sale of your car unless the buyer had notice or knowledge of the tax lien at the time of purchase.
In other words, unless your buyer knows about the Federal tax lien when he buys the car, the tax lien does not have to be paid to permit transfer and sale.
Yes, you can sell the car, and keep the proceeds, even though the IRS has filed a tax lien against you. (Of course, the IRS can levy the proceeds of the sale if you have cash on hand.)
The tax code provides similar protections to the sale of securities and personal property purchased at retail. If the IRS has a Federal tax lien, and you sell stock to an arms-length buyer who is unaware of the lien, the stock passes to the buyer free and clear. If you go to a store, which owes money to the IRS and has tax lien filed against it (including inventory for sale), your purchase of an item in that inventory is unaffected by the lien if you did not know about it. In other words, the IRS does not follow the lien to you, the innocent purchaser.
Even though it attaches to most everything you owe, the IRS usually does not enforce it unless your property (1) has value and equity and (2) is not necessary to your health and welfare (household goods, or a vehicle to get you to work, and even equipment that you must use in your business is necessary to your health and welfare). And in most situations, the lien is good only for the time frame the IRS has to collect from you, which is 10 years.
Call us now 800-790-8574 or fill out the contact form on our webpage to speak with a Tax Attorney or IRS Enrolled Agent.

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB Accredited Business - As Seen on TV!

Testimonial:
"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

LOSING YOUR TAX REFUND TO THE IRS EVERY YEAR BUT NEED THE MONEY? CONSIDER THESE CHANGES - ADVANCE TAX RELIEF LLC


If you owe the IRS and have a refund on your tax return, the IRS will keep the refund and apply it to your unpaid taxes. The problem is not repaying the debt – you would if you could – but that you simply cannot afford to lose the refund. The refund is needed to pay bills, repair a car, or see the doctor.

The solution to any lost refund issue: Review your withholding to eliminate the IRS refund and
 TAX RELIEF
put the cash in pocket for necessary expenses.

If you are losing your refunds to the IRS, change your withholding. Take your refund, divide it by the number of your paychecks, and tell your employer to lower your withholding by that amount each pay period. You can also change the number of exemptions you are claiming, although I prefer making a specific dollar change. You will probably need to complete a new W-4 for the change.

If you are married, file jointly and only your spouse owes the IRS, it is important to attach an Injured Spouse Allocation (Form 8379) to your return.

You are being injured by the IRS taking your refund and applying it to your spouse’s tax liability. You can still file jointly – there are benefits to you over filing separately – but use the injured spouse allocation – it permits the IRS to calculate how much of the refund was generated by you, and pay it to you, rather than apply it to a debt that is not yours.

Most tax refunds are generated from too much withholding. In essence, this means you are making a loan to the IRS of your money by overpaying the current year’s taxes. While for some this is a good way to accelerate paying the IRS back, if it is more than your budget can take, change your withholding or file a injured spouse claim.

We at ADVANCE TAX RELIEF LLC are experts in tax resolution and help taxpayers with their IRS Problems every day.

Call us now 800-790-8574 or fill out the contact form on our webpage to speak with a Tax Attorney or IRS Enrolled Agent.

ADVANCE TAX RELIEF LLC
www.advancetaxrelief.com
BBB Accredited Business - As Seen on TV!

Testimonial:
"My husband lost his job and the IRS was garnishing my wages. I called advance tax relief for help, my wage garnishment was released and we settled with the IRS for $1,200 on a $48k debt. Our family is very grateful" - Shirley W, Tampa FL.

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#taxrelief #taxhelp #taxattorney #irshelp #taxreturn