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#1
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property seizureWhat is the name of your state? MA i'm concerned about the potential loss of my childhood home. my father (retired and broke) owes $150, 000 to the irs. however, the house was transferred to my mother's name over 4 years ago. she filed separate income tax returns for the years in question ( the years that comprise the debt). i also still reside at the residence. the house has an appraised value of approx $249,000 but can sell for close to $400,000 on the market. my father received a third notice about this debt from the irs...can someone cast some light on the steps leading up to seizure? and will my mother be a target even if she filed separate tax returns for the years in question...and will the house be targeted even if it was transferred to my mother four years ago? thanks a bunch for any insight... |
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#2
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| Have your father contact a tax attorney or enrolled agent about making an offer in compromise, based on the uncollectability of the debt. This will make the whole thing go away. The attorney or EA can help with the statement of assets and how much to offer.
__________________ This post does not constitute legal advice, nor does it create an attorney-client relationship. Postings are based only on the information provided and you should consult an attorney in your area before relying on information contained in this post. |
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