Paying IRS Back Taxes
REM #F750
By Ilyce R. Glink
Summary: A ThinkGlink reader would like to quit claim his property to the IRS. Ilyce explains that he will have to sell the property and pay the IRS from the proceeds.
Q: Can I quit claim my property to the IRS in lieu of paying back taxes?
A: No. the IRS is not in the real estate business other than to place liens
against the equity of a property. When you sell your property, the IRS will
take its share.
NOTE: This column is distributed by Real Estate Matters Syndicate, PO Box 366, Glencoe, Illinois, 60022. This column may not be resold, reprinted, resyndicated or redistributed without written permission from the publisher.
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