Demand for payment letters from IRS

If a taxpayer does not pay their tax bill fully, the IRS sends an “demand for payment” letter. If not paid, a mortgage loan next comes dated from the assessment date. This mortgage will be linked to everything the taxpayer owns & everything that has been purchased in the future.

Michael Lawrence says, of the two types of mortgage rights, one of them is called a quiet mortgage loan because it is not filed with anyone and the only unit that is aware of the mortgage is the IRS … & hopefully the taxpayer. A quiet mortgage loan is not submitted to the County Office’s office.

The second type of mortgage is called a “Notice of Federal Tax” Lien & is filed with the County Office’s office as well as the Secretary of State. This tax law is very public.

If the balance is large, the tax can “pay” be completed when trying to achieve certain things, for example by refinancing a house. The IRS may be asked to subordinate their mortgage to the bank, but no results can be guaranteed.

To learn more about what to do in a stressful tax situation, call Michael Lawrence from Je Tax Servicesor click on playback on the video.

“@ Your Service CNY” is a weekly segment that profiles a diverse range of service companies and employees in Central New York.

If you are interested in displaying, contact Andy Carlisle at 315-477-9439 or [email protected].

“@ Your service” is sponsored by Je Tax Services.