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Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Experience:  Nearly 30 years of varied tax industry exp. Tax Biz owner
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(PLEASE DO NOT TAKE THIS QUESTION UNLESS YOU CAN HELP WITH

Customer Question

(PLEASE DO NOT TAKE THIS QUESTION UNLESS YOU CAN HELP WITH AN ANSWER BETTER THAN (SORRY TO HEAR ABOUT YOUR TAX PROBLEM).. I got in trouble with unreported income with the irs, the original amount tax amount was around 125K, in excess of 300k now. all of their tax bills are already hitting my mailbox. i have been paying some of the amount owed, so far no intent to lien or levy notices. so i am in process of getting my documents together for an offer in compromise with my accountant. Now in the mean time the irs sends the state of sc a notice that there was unreported income, march of 2013 i get a tax bill from sc, i didnt pay it, now sc sent me a letter in the mail aug 2013 stating that they have (swiftly) placed property liens and they also put the amount owed on my credit report. When you do an offer in compromise with the irs you have to send 20% of the offer up front, Now that the state of sc has liens on property, it is not possible to sell property to fund the 20% for the oic for the irs. Seems to me the irs shot themselves in the foot and done all the paperwork for the state. So i guess my question is now, How does all this go down?
BTW, I TIP VERY WELL.

Thanks, Daron
Submitted: 1 year ago.
Category: Tax
Expert:  Tax.appeal.168 replied 1 year ago.
Welcome. Thank you for choosing us to assist you. My name is Angela and my goal is to help make YOUR life, a little...LESS taxing.

Q: How does all this go down?

A: Thank you for your patience. When it comes to satisfying a tax debt, the SC DOR, at their discretion, can release or modify the lien in order for a taxpayer to sell the property to satisfy the tax debt. SEE BELOW:


"If we believe releasing or modifying a lien will facilitate the paying of the tax debt, we may, at our discretion do so."

REFERENCE SOURCE:

http://www.sctax.org/Publications/Taxpayers%E2%80%99+Bill+of+Rights.htm

Based on the possibility that the SCDOR can release or modify the lien so that you can sell the property in order to satisfy your tax debt, my suggestion would be to contact them as soon as possible and let them know that you are in the process of entering into an OIC with the IRS, but you need to sell the property in order to pay the 20% required, and to satisfy the debt owed to them. Usually, if it is in the benefit of the taxing agency to subordinate, release, or modify the lien, they do.


You can reach them at either of the following numbers;

Where to Call

Contact Center………………………………(803) 898-5000(Columbia)

Compliance and Recovery…………………(803) 898-5381

Taxpayer Advocate…………………………(803) 898-5444

Please let me know if I can be of further assistance to you regarding this matter.

Thank you again for using our service today.
Expert:  Tax.appeal.168 replied 1 year ago.
In addition to the information previously provided, a colleague was kind enough to bring to my attention that entering into an installment agreement will usually prompt the taxing agency to release the tax lien as well.

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