Tax Advice Can Help Your Plans of Buying a New Home
Posted by | Posted in Trading Software | Posted on 07-09-2010
Two years ago, we’re lucky to have found our dream home. Much to our delight, our offer was accepted, and we put our house on the market and quickly found an enthusiastic buyer. Tax Advice
Everything was going along nice and easy and our family was looking forward to the big move but we hit a major roadblock. To our surprise, there was an IRS tax lien on the home we were selling.
My wife and I had the slightest idea where the tax lien could have come from. We didn’t receive any notification from IRS in the mail to alert us of the problem. No statement of back taxes owed. Apparently this problem had existed for a while, since we discovered it when we were selling the house in 2007, and the from the 2002 tax year.
So what I did was check our 2002 taxes after filing it online and it showed that we did not owe any taxes. I couldn’t handle the situation and I felt that it was best to let somebody take care of the problems for us. Why reinvent the wheel? I decided my time was better spent keeping our business afloat rather than devoting hours upon hours to dealing with the IRS, a task that I knew nothing about.
What scared me the most was that filing a tax lien would mean the IRS had claim over our assets including the property we purchased after the tax lien was settled. From what I read online, this prohibited us from selling our assets or withdrawing equity from our assets as long as the IRS had an interest in those assets. It dawned on me that the tax lien will hold us off even if we continue to work hard on our business and the looming possibility of the government taking over our assets in the future.
We discovered Preferred Tax Relief and started working with them. They were quick to address the issues and helped us calm down, which was a big deal for us. They were so fast in handling our tax lien case thus, we were able to sell our house right away and moved into our new home. Preferred Tax Help
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