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I have a question about leans on house. There is two leans…

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There is two leans on our house plus an IRS lean. If it's sold which will get paid first?

Submitted: 5 months ago.Category: Tax
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Answered in 8 minutes by:
11/10/2017
Tax Professional: Fred Rook, Certified Public Accountant (CPA) replied 5 months ago
Fred Rook
Fred Rook, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 125
Experience: 20+ years as a Certified Public Accountant, including 19 years working in public accounting firms with extensive tax, audit, write-up and consulting experience.
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Hello. My name is ***** ***** I will help you. While the IRS has the legal right to place an immediate blanket lien against all personal property a debtor owns (including real estate) if the individual fails to pay his overdue taxes within 10 days of notification, it does not automatically have priority over previously recorded liens. The priority order of an IRS lien, like the liens of private creditors, depends on the date the IRS recorded the lien. So to answer your question, it really depends on the order in which the liens were filed. Let me know if this answers your questions, or if you have any follow up questions for me.

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Tax Professional: Fred Rook, Certified Public Accountant (CPA) replied 5 months ago

Hello - just wanted to see if you have any follow up questions for me. If finished, please take some time to rate my service. Thanks!

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Fred Rook
Fred Rook, Certified Public Accountant (CPA)
Category: Tax
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Experience: 20+ years as a Certified Public Accountant, including 19 years working in public accounting firms with extensive tax, audit, write-up and consulting experience.

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