Taxpayer Denied Home Equity Loan, IRS Tax Lien the Cause - DWK Tax Group

Not all cases end with a happily ever after scenario, in this case taxpayer may have waited to long to engage the IRS Tax Lien on his primary residence.
By: DWK Tax Group
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Irs Tax Lien
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Home Equity Loan


Los Angeles - California - US

LOS ANGELES - June 5, 2014 - PRLog -- As if dealing with an IRS or State Tax Problem isn’t tough enough…Both the State of Louisiana and the federal government were inter twined.

Along comes the method of publicly announcing a specific individual’s inability to keep current with the most basic financial obligation, the filing of a IRS Tax Lien (

What is an IRS Tax Lien?

A tax lien is a lien imposed by federal or state law upon a property to secure the payment of taxes. A tax lien may be imposed for delinquent taxes owed on real property or personal property, or as a result of failure to pay income taxes or other taxes. The Internal Revenue Service initiates a tax lien when balance of tax debt owed exceeds $10,000.00. Additionally, an IRS tax lien puts future vendors and potential lenders of the possible risks involved in providing personal or business financing.

Again, an IRS tax lien is a publicly recorded instrument to put anyone wanting to do business or loan you money on notice and the risks involved by doing so.

IRS Tax Lien and repercussions

In 2005, taxpayer completed his individual tax return with erroneous tax preparation ( tactics. Basically, capitol gains and losses were not correctly reported on the 1040 because of the inability to identify the cost basis of stock trades. Taxpayer got audited, IRS tax debt ballooned to over $100K, an IRS tax lien was issued. Taxpayer decides to amend 2005 1040 tax return 2 years later. Assuming his approach was the correct approach (Which it was), taxpayer hires Jackson Hewitt to create an amended tax return. Taxpayer assumed the preparer was responsible to file by sending the tax return packet via snail mail, JH assumed the opposite. Needless to say, the amended 2005 tax return was never submitted to the IRS for processing. Oh no!! Lesson to be learned here…it is ALWAYS the individual or businesses’ responsibility to execute its tax obligation.

City and county (Parrish) property taxes from the State of Louisiana went unpaid. It triggered a property tax sale 3 years ago.  In 2011, the taxpayer’s primary residence was sold to an anonymous purchaser . The taxpayer had 3 years to “buy back” the property and the deadline was upon us.

Fast forward to yesterday, taxpayer needs money to buy back his primary residence. The home equity lender would not touch, nor begin any loan process until the IRS tax lien was removed or subordinated. The process to subordinate, withdraw or discharge takes a minimum of 45 days to process and a 30 day turnaround time is considered “expediting”.

The IRS tax lien needed to be subordinated in 6 calendar days in order for the taxpayer to apply for a home equity loan and save his home. A Form 14134, Application for Certificate of Subordination of IRS Tax Lien, 1 amended tax return and 6 years of missing federal and state tax returns, notarized taxpayer statement was submitted.

Need a road map to tax serenity?
Give yourself, your family or your business a fighting chance to succeed, IRS tax relief help ( is real possibility. If ever in doubt as to how to proceed given a specific tax scenario, call DWK Tax Group at 1 – 8 6 6 – 2 26 – 6 1 0 2 extension # 1, Monday – Friday,  9AM till 5PM. If tax situation arises, seek the advice of a tax professional. A tax mistake will often have you paying way more than what you actually owe.

DWK Tax Group offers affordable IRS or State tax representation, a valuable service, a necessity for a mental piece of mind. All fees are flat and negotiable. 5 years plus, not a single complaint. Why? DWK Tax Group does what it said it would do. The company core value exercised on a daily basis is simple. “We treat the tax problem as if it were our own!”, says managing partner and IRS Enrolled Agent (, Andrew Hatchie Jr..

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Andrew Hatchie Jr.
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Tags:Irs Tax Lien, Irs Tax Levy, Irs Wage Levy, Irs Levy, Home Equity Loan
Industry:Family, Finance
Location:Los Angeles - California - United States
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