Legal Question in Wills and Trusts in California
If I owe back taxes, am unemployed and inherit property, how can I keep the IRS from taking it? Can it be transferred to someone else? what are my options?
3 Answers from Attorneys
You are advised to seek the assistance of a tax attorney familiar with IRS procedures re liening the land and suing for possession and sale to satisfy the taxes you state you owe. Maybe a settlement ca be worjked out with IRS to settle for a lower sum and maybe a payment schedule. But the rule regarding settlements for a lower sum, require payment in full for the discounted tax debt.
The IRS can collect from what you own. Since you are inheriting property, once it is distributed yto you, you may lose it for payment of back taxes. You need to address the tax issue and perhaps negotiate a settlement with the IRS. Discuss your position with tax counsel.
This gratuitous response does not create an attorney client relationship. The advice provided herein is generic, may not apply to your circumstances and is not to be relied upon in your actions. An attorney client relationship is created only upon execution of an engagement letter hiring me or my firm.
Pay your taxes.