- quote -

I know your up to speed Phil, but advice to others.......!

Consult pub's 783, 784, & 785 depending on the situation
Also consult Pub-1660 on where to route the application.
Make sure the Application is complete!

And most importantly, the TP/Bank/Lawyers need to bust but to make the deal
work.

The TP needs to be in ~CURRENT~ compliance with: filing returns that are due
and make Estimated deposits or Proper Wage Withholding!!

--
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William Brenner wrote:
- quote -

The subordination process has been available probably since
the inception of the tax lien. This sounds like a good
attempt to publicize it and make it more user friendly.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Dec 17, 10:05�am, rdad...[at]panix.com (Dick Adams) wrote:
- quote -

This process has been around a long time. What is new is that they
will try to accomplish it much faster. They say it takes 30 days
before this news release but it has been more like 45 to 60 days.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Dick Adams" wrote:

- quote -

A better move by IRS Public Affairs and a Commissioner who seems to have
some political instincts. These processes have been in place since the
Federal Tax Lien Act of 1966.

The snag in getting them done timely has primarily been incompetent real
estate agents who don't know about them and lazy title company employees who
don't sound the alarm fast enough. Hopefully IRS has streamlined the
process as best they can, but considering that I've gotten them done in less
than 24 hours start to finish, I don't see much they could have changed from
what was already in place.

--
Phil Marti
Clarksburg, MD

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

William Brenner <wbrenner[at]nospamplease.net> wrote:

- quote -

An interesting article and a very good move by the Treasury Secretary.

Dick

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

IRS lien against home can be made secondary to lender lien.

http://news.yahoo.com/s/ap/20081216/...s_homeowners_2

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >