Will bankruptcy stop tax liens?
My home that I have lived in for 2 years is worth $300,000 and I have a $450,000 mortgage on it. The IRS claims I owe $100,000 in back taxes. I have heard mixed advice and I want to know, will filing for bankruptcy prevent the IRS from taking my home under a chapter 13 filing?
Answered By: The Schreiber Law Firm
Presently, there is no equity due to the amount owed to mortgage holder. The IRS isn't going to sell since it cannot receive anything from a sale, since it would have to pay off the lien holder first.
Answer Applies to: California
Replied: 7/6/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 7/6/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answered By: Bird & VanDyke, Inc.
Taxes are very difficult to deal with. Potentially they could be discharged. Would need more info.
Answer Applies to: California
Replied: 7/6/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
Answer Applies to: California
Replied: 7/6/2011
Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.
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