Investor · Danvers, MA · Member since 2016 · 50 posts · 5 votes
I am getting ready to apply for my deed on a property with an IRS lien associated with it. The "former" owner has debt of other sort as well as the IRS and we are getting a title binder to sort all that out as to the QT action. My question is that according to some education that I've taken (multiple) the seems to be a way to "extinguish an IRS lien after 120 days. If anyone can point me in the direction of the source of that info I'd be eternally grateful! Thanks as always!
@Roger GelpeyThe tax sale extinguishes the lien, leaving the IRS with only redemption rights. They will release their redemption rights upon written application. There is not a form, but there is a publication that describes what you must do. Go to irs.gov and use the search engine to search for release redemption.