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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ChanceIs who wrote (85173)8/14/2007 11:13:18 AM
From: Travis_BickleRead Replies (2) | Respond to of 306849
 
The IRS lien attaches to all property regardless of when the property is acquired for a period of ten years after the tax is assessed.

They could levy on bank accounts, garnish wages, etc. but in practice don't do it very often.

As a practical matter imo most of the people who default will be insolvent at the time so there won't be any COD income.



To: ChanceIs who wrote (85173)8/14/2007 11:15:16 AM
From: jrhanaRespond to of 306849
 
IMO Some sort of benign payment program to the IRS will have to be worked out.


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