InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Will IRS negotiate payment of tax lien? Posted by Ward-CA- on November 16, 2001 at 9:20 AM In Reply to: Will IRS negotiate payment of tax lien? posted by brian on November 15, 2001 at 7:23 PM : I just got a quit claim deed for a property- the day before the trustee sale. It has a couple of judgements, and IRS lien for 5800 and some equity. Does anyone know if the IRS will negotiate a payoff? How much might they discount 5800? I got an authorization from the ex-owner to negotiate a settlement of judgements, just in case. =?=?=?=?=?=?=?=?=?=?= Brian, yes the IRS is open to offers in compromise, especially on accounts smaller than $10,000. What you should do is just offer $1,000. If they turn it down they won?t give you a counter offer figure. They?ll just tell you to make them another offer. So increase the $1,000 by another $500 and they just might take it, especially if you agree to a partial release of just the property for that figure, leaving IRS free to pursue the taxpayer for the rest of the $5,800. As far as the judgments are concerned, I think your best approach is to negotiate to buy the judgments for your own account, rather than negotiate their payoff on behalf of the debtor. It?s a crucial difference in the mind of the usual judgment creditors who won?t be too disposed to do any favors for a delinquent payor who forced them to get a judgment, whereas they will discount their judgments quite a bit with a non-involved debt recovery specialist. Hope this helps. Follow Ups: Process of Ownership Change Troy Nichols 11:20 AM, 11/19/01 (1) Re: One way to skin a cat... Ward-CA- 8:45 PM, 11/19/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I just got a quit claim deed for a property- the day before the trustee sale. It has a couple of judgements, and IRS lien for 5800 and some equity. Does anyone know if the IRS will negotiate a payoff? How much might they discount 5800? I got an authorization from the ex-owner to negotiate a settlement of judgements, just in case. : =?=?=?=?=?=?=?=?=?=?= : Brian, yes the IRS is open to offers in compromise, especially on accounts smaller than $10,000. What you should do is just offer $1,000. If they turn it down they won?t give you a counter offer figure. They?ll just tell you to make them another offer. So increase the $1,000 by another $500 and they just might take it, especially if you agree to a partial release of just the property for that figure, leaving IRS free to pursue the taxpayer for the rest of the $5,800. : As far as the judgments are concerned, I think your best approach is to negotiate to buy the judgments for your own account, rather than negotiate their payoff on behalf of the debtor. It?s a crucial difference in the mind of the usual judgment creditors who won?t be too disposed to do any favors for a delinquent payor who forced them to get a judgment, whereas they will discount their judgments quite a bit with a non-involved debt recovery specialist. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Copyright © 1997-2001, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455