Authorify - Tax Book Preview

will return from a search. Relatives who share similar names or those with unusually common names (e.g., Smith or Jones) might find themselves asked about liens they didn’t incur. In this case, according to, you should work with your real estate agent and title company to determine what proof is needed to clear the issue. Generally, all it takes is something as simple as a verification of your birth date or home address. If, however, you’re the seller and the lien is appropriately on your property, work to resolve the issue as soon as possible. Contact the lien holder and arrange how to pay it off. Often, the repayment will come out of the proceeds of the sale of the house. For particularly complicated liens, you might seek legal counsel. There are various actions you can take if a lien is placed on your property, which are determined by how much you owe and specific laws in your area. If there is a federal tax lien on your home, you must satisfy the lien before you can sell or refinance your home. There are several options to satisfy the tax lien. According to, if you have equity in your property, the tax lien is paid (in part or in whole, depending on the equity) out of the sales proceeds at the time of closing. If the home is being sold for less than the lien amount, the taxpayer can request the IRS discharge the lien to allow for


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