The Internal Revenue Service (IRS) announced an expedited process that will make it easier for financially strapped homeowners to sell or refinance a home burdened with a federal tax lien.
Homeowners looking to sell a home when a federal tax lien has been filed have options:
Certificate of Lien Subordination: http://www.irs.gov/. Taxpayers can request that the IRS make a tax lien secondary to the primary home loan.
Certificate of Discharge: http://www.irs.gov/. If homeowners are selling their home for a lesser value than the mortgage loan, they may apply for a tax credit if the mortgage is in first position.
The IRS may also issue a discharge if the taxpayer has sufficient equity in other assets or can pay the IRS its equity in the property.
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