News & Analysis as of

Tax Liens

Withdrawal of IRS Tax Liens

by McNair Law Firm, P.A. on

When an individual or business owes federal taxes, a lien arises in favor of the IRS in all property of the delinquent taxpayer. The IRS will often file a notice of this tax lien – a Notice of Federal Tax Lien or “NFTL” – in...more

Tax Lien Takes Priority Over Earlier Interest Where Deed is Improperly Executed

by Miles & Stockbridge P.C. on

In the recent case of The Bank of NY Mellon v. Ashley, et al., 119 AFTR 2d 2017-1207 (D.C. Md. 2017), the U.S. District Court for the District of Maryland held that, where taxpayer-husband alone executed a deed of trust in...more

IRS Issues Guidance Regarding Estate Tax Lien Discharge Process

by Charles (Chuck) Rubin on

When an individual dies, an estate tax lien attaches automatically to all of the property included in the gross estate. It arises prior to tax assessment, and is not recorded....more

Discharge of Federal and State Income Taxes in Bankruptcy

by McNair Law Firm, P.A. on

If an individual or business owes unpaid income taxes to the IRS, or to a state, federal bankruptcy laws may provide relief for some, if not all, of these taxes. Generally applicable to “older” federal and state income taxes,...more

Real Property & Title Insurance Update: Week Ending March 24, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Condition Precedent: servicer did not meet its burden of proving it satisfied condition precedent of giving notice of acceleration by failing to provide evidence that notice letter had...more

Tax Lien Foreclosure – Rights of Mortgage Holders and Unassessed Owners

by PretiFlaherty on

Experienced tax collectors and treasurers know that mortgage holders and unassessed owners of record have the right to receive copies of certain notices during the tax lien foreclosure process. But what are these entities’...more

New South Carolina Tax Payment Plans

by McNair Law Firm, P.A. on

Form FS-102, Payment Plan Request. The form previously required a taxpayer to first make a ten (10) percent down payment of all taxes due, and to also pay a $45 filing fee, as conditions for a payment plan, but DOR then had...more

Wealth Management Update - February 2017

by Proskauer Rose LLP on

February Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The February § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more

Court Considers Priority of Replacement Mortgage Over Federal Tax Lien

by Miles & Stockbridge P.C. on

In the case of Wells Fargo Bank, N.A. v. Svenby, 118 AFTR 2d 2016-5751 (September 8, 2016), the U.S. District Court for the Middle District of Alabama held that Wells Fargo’s replacement mortgage had priority over a Federal...more

How to Eliminate IRS Tax Debt in Arizona

by John Skiba on

When it comes to IRS tax debt none of the typical debt collection rules apply. The IRS has power to take your money and lien your home without even filing a lawsuit. This is much different than the standard unsecured...more

South Carolina State Tax Liens

by McNair Law Firm, P.A. on

The South Carolina Department of Revenue (the “Department” or “DOR”) files tax liens when a taxpayer fails to timely pay his or her state tax liability. The Department files a tax lien in order to establish its priority to a...more

What Do All These IRS Collection Letters Mean?

by McNair Law Firm, P.A. on

When someone owes the IRS taxes, as a result of not paying the tax shown as due on a tax return or where the IRS audits and imposes additional taxes owed, the IRS will “assess” this tax liability, and with penalties and...more

N.C. Court of Appeals: Absent Notice to the Federal Government, Foreclosure for Unpaid Local Taxes Won't Extinguish Federal Tax...

North Carolina is a "pure race" state, for real estate title purposes. That is, “first to record an interest in land holds an interest superior to all other purchases for value, regardless of actual or constructive notice as...more

Do You Know About the 4 Scenarios in the IRS Collection Process?

by Foodman CPAs & Advisors on

The IRS collection process begins when IRS does not receive full and timely payments from a taxpayer after it issues a collection notice. Based on the information in the taxpayer’s 1040 tax return, if the taxpayer does not...more

IRS Tax Liens and Discretionary Trust Interests - Part 2

by Charles (Chuck) Rubin on

In April, I wrote how a U.S. District Court held that a beneficiary’s discretionary interest could be liened by the IRS for tax liabilities of the beneficiary. The interest was “halfway” between a purely discretionary...more

Tax Lien on Me: Fifth Circuit Holds the Transfer of a Tax Lien is not Subject to the Truth in Lending Act

by Dorsey & Whitney LLP on

On April 29, 2016, the United States Court of Appeals for the Fifth Circuit held that the transfer of a tax lien does not constitute an extension of “credit” subject to the protections of the Truth in Lending Act (“TILA”). ...more

What Happens to Jointly Owned Property When One of the Owners Owes the IRS

by Charles (Chuck) Rubin on

Leonard and Joyce owned 50% of a commercial property. Their son, Derek, owned the other 50%. The IRS liened the property due to amounts owed by Leonard and Joyce to the IRS for unpaid taxes. The IRS sought to foreclose its...more

Wealth Management Update - June 2016

by Proskauer Rose LLP on

June Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts The June § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

Discretionary Trust Interest Held Subject to Federal Tax Lien

by Charles (Chuck) Rubin on

Code Section 6321 imposes a federal tax lien for unpaid taxes upon “all property and rights to property, whether real or personal” that belong to the delinquent taxpayer. Is a beneficiary’s interest in a trust a property...more

Failure to Timely Pay Texas Ad Valorem Taxes: Reminders for Taxpayers and Secured Lenders

by Liskow & Lewis on

The extended downturn in the oilfield economy is showing up in some taxpayers’ inability to pay their Texas real property and personal property ad valorem taxes when those taxes become due. This note reminds taxpayers what...more

Court Upholds Foreclosure on Taxpayer’s Primary Residence in Satisfaction of Federal Tax Lien

by Miles & Stockbridge P.C. on

In United States v. Smith, 117 AFTR 2d 2016-XXXX (February 8, 2016), the U.S. District Court for the Western District of Washington allowed the Federal government to foreclose on the taxpayers’ primary residence in...more

Treasury Green Book Proposal — 6166 Extensions

by Bryan Cave on

The Department of the Treasury has released the Treasury Green Book for Fiscal Year 2017, which provides explanations of the President’s budget proposals. One such proposal (remember…these are just proposals, not actual...more

Attorney’s Fees Collectable in Tax Sale

by Cozen O'Connor on

A panel of The Commonwealth Court of Pennsylvania held that attorney’s fees are collectable in a tax sale, notwithstanding that Act 2003-20, which authorized the collection of reasonable attorney’s fees, was retroactive to...more

TDADS denying HCSSA License Renewals because of Tax Liens

by Jackson Walker on

In July 2012, the U.S. Government Accountability Office published a Report entitled "Providers in Three States with Unpaid Federal Taxes Received over $6 Billion in Medicaid Reimbursements" (the "Report"). ...more

CFPB files amicus brief in Fifth Circuit TILA case

by Ballard Spahr LLP on

The CFPB has filed an amicus brief in Billings v. Propel Financial Services, LLC, a case on appeal to the U.S. Court of Appeals for the Fifth Circuit. The issue in the case is whether a private lender extends“consumer credit”...more

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