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Tax, SDIRAs & Cost Segregation

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Mark Gruetzmacher
  • Investor
  • Box Elder, SD
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228
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IRS Liens and Selling a House

Mark Gruetzmacher
  • Investor
  • Box Elder, SD
Posted Jan 29 2020, 15:14

Here is the situation.  Dad passed away and there is an IRS Lien on his name.  He owed a house that is worth 30-50K maybe.  Lien is in the upper 20k range.  The lien has been on file since 2103 so in 2023 the lien is no longer good unless they renew it.  Also keep in mind that he owes almost 3 times the lien amount to the IRS also.  They just haven't put anymore liens against him yet and might not since he is deceased and it's been almost a year.  The estate doesn't have any money either. 

What is everyone's thoughts on what to do with the property.  Can you sell it still obviously with the lien still there and then wait out the next 3 year until the lien ends then do quit title action?  Transfer the property to the kids and wait out the lien?  Talking to the IRS is about impossible.  You just can't give back the house to the IRS.  Thoughts

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