The Star Telegram reports that homeowners with federal tax liens against their real property—who are trying to sell or refinance their home—will receive much needed relief from the IRS. The IRS announced that it is offering an expedited process for removing or changing a tax lien on properties that are being sold or refinanced in an effort to help homeowners struggling in this financial crisis.
The IRS is increasing its manpower dedicated to expediting tax lien releases and changes by adding 40 collection advisor groups, including one in Dallas-Fort Worth. Normally the process to change or release a property-tax lien can take 30 days; but the IRS is pushing efforts to reduce that timeframe significantly.
The expedited property-tax lien process does not release a homeowner's obligation to pay the tax, penalties, fees or interest and only applies to federal taxes, not state taxes.
For information more information about the tax-lien release/change process call the office at (214) or (817) 265-0123.
If you're a homeowner who has a federal tax lien on your property and you want to sell or refinance your home, move as quickly as possible to take advantage of this program.