Question

Carl Cashflow consults you regarding a tax lien in the amount of $25,000 for delinquent employment taxes of his corpora...

Carl Cashflow consults you regarding a tax lien in the amount of $25,000 for delinquent employment taxes of his corporation. Carl tells you that his sole asset is his residence, and he gives you the following information:
Fair market value
$125,000
Mortgage
$115,000
Equity
$10,000
Carl is paying $800 per month on the mortgage, and he finds that this is more than he can afford. He has an offer to purchase his home for $125,000. He would like to buy a condominium for $75,000 after he sells his home, but he needs $7,500 for a down payment. He figures buying the condominium will bring his monthly housing payment to $550.
(A) Can anything be done to prevent the IRS from levying on the proceeds of the sale of the house?
(B) What can you suggest to Carl to get the IRS to go along with this arrangement?
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Answer #1

A) yes Carl can arrange for short term loan or can use other methods of financing for making the down payment or else he can opt for payment plan of irs where he can plan payment of his dues so that his house can be prevented from lien.

B) yes ,if he arranges for money then he can use the strategy he has decided

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