160 likes | 288 Views
Federal Tax Liens. Federal Tax Liens. Taxpayer Authorization Releases Payoff Request. Federal Tax Liens. Certificate of Discharge Certificate of Subordination. Federal Tax Liens. Purchase Money Mortgages & Subordination Certificate of Nonattachment. Federal Tax Liens.
E N D
Federal Tax Liens Taxpayer Authorization Releases Payoff Request
Federal Tax Liens Certificate of Discharge Certificate of Subordination
Federal Tax Liens Purchase Money Mortgages & Subordination Certificate of Nonattachment
Federal Tax Liens Collection Advisory Group Addresses
Taxpayer Authorization • Any request for taxpayer information regarding liens must include form 8821 Tax Information Authorization or • Form 2848 Power of Attorney and Declaration of Representative
Lien Releases Written request for release of lien must include the following: • Name, address and taxpayer identification number • A copy of each notice of Federal tax lien for which a release is requested • Grounds upon which release is being sought as well as proof
Payoff request • Request must include taxpayers name and identification number • Date pay-off should be calculated through • Taxpayer authorization to release information (form 8821 or 2848) • Name, phone number and address where requestor may be contacted
Certificate of Discharge • Prepare memo as per Publication 783 include • Copies of Federal Tax Liens • Title Commitment • Certified Appraisal • Preliminary Settlement Statement
Certificate of Subordination • Prepare memo as per Publication 784 include • Certified appraisal • Copy of refinance or new loan agreement • Settlement charges • Amount to be paid over to Government
Purchase Money MortgagesPublication 785 • A loan made to purchase real property, the lender may obtain a Purchase Money Mortgage (PMM)
Purchase Money Security Interest Pub 785 • A loan made to purchase personal property the lender may obtain a Purchase Money Security Interest (PMSI)
PMM & PMSI Pub 785 • Revenue Ruling 68-57, which states that it is the position of the IRS that a PMM or a PMSI given in good faith to secure a loan for the purchase of real property or goods, has priority over an already recorded Notice of Federal Tax Lien.
Certificate of Nonattachment Prepare memo as per Publication 1024 include • Real Property provide a Copy of Deed. • Copies of any documents that will prove identity of applicant (driver license, social security card)
Collection Advisory Group Addresses Publication 4235: • Provides a list of certificates related to a Notice of Federal Tax Lien and • Provides the addresses for IRS Advisory Group by locations serviced.
Contact Information for South Texas Call or write to: Advisor Paula Wilkins Telephone No. 210-841-2408