Tax Lien

[Tremor]

In 1988 my father sold a home in California and moved to Alabama. He paid the property taxes, but he didn't pay the taxes on the profit he made off the house. Which was $2,000 then. Now it has ballooned to $37,000. There is a tax lien on all my father's property. My parents have know tax records from then. My mother recently retired. What can they do so the IRS doesn't take her retirement money and how can he clean this off his record?

 

[Michael Wechsler]

In 1988 my father sold a home in California and moved to Alabama. He paid the property taxes, but he didn't pay the taxes on the profit he made off the house. Which was $2,000 then. Now it has ballooned to $37,000. There is a tax lien on all my father's property. My parents have know tax records from then. My mother recently retired. What can they do so the IRS doesn't take her retirement money and how can he clean this off his record?

I don't know the specifics. If it's that much money, have you spoken to a tax attorney? I don't know how a $2,000 nonpayment turned into 15 times that amount in 10 years. We may be missing a few things.

 

[Wilson]

Well,

Its working is in such a manner that once the investor purchases the tax lien certificate then that is secured to property it is alike as if the investor is paying property tax unpaid on behalf of its initial owner.

A single owner or the owner of the property has been not capable to pay off the property tax for that property. In these kinds of situations a investor can come and pay the taxes and in return obtain the Tax lien certificate.