Impending unemployment Tax Bomb and Liens?

3 Replies

Any suggestions on how to learn more about tax lien investing?

I'm expecting a major tax bomb impacting millions of Americans to hit Q1/Q2.  You can't hand out $700 of state unemployment, $600 federal, with hold $0 taxes and expect the American public to be financially savvy enough to save a portion for taxes.

I expect some unemployed could be looking at a $10,000 plus tax bill who've never owed taxes before.

I'd imagine this is going to inevitably saturate the tax lien market, driving down prices, so I'd like to start learning more now for when the ish hits the fan.

IRS tax liens, if filed which seems highly unlikely in this scenario, are not sold/auctioned off so there would be no affect on any other (property) tax liens markets.

Originally posted by @Wayne Brooks :

IRS tax liens, if filed which seems highly unlikely in this scenario, are not sold/auctioned off so there would be no affect on any other (property) tax liens markets.

 I get that, I'm wondering if people will start robbing Peter to pay Paul... if the IRS says you owe $8k right now you may fall behind elsewhere.

Are you asking about state property tax liens or Federal IRS liens?

The IRS rarely foreclosed on their liens.

Property tax liens are auctioned off every year.