What happens if i buy property from a taxpayer who has a tax lien against them?

Answer Failure to pay property taxes or state or federal income taxes may result in a lien, or hold, placed on real property that the indebted owns. Liens create issues for both the buyer and seller of th... Read More »

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Do I Have to Notify the IRS if I Buy Property for a Taxpayer With an IRS Lien?

There is no need for a person who purchases property for or from a person with an IRS tax lien to notify the IRS. The responsibility for researching a taxpayer's assets and issuing liens is solely... Read More »

Is a property owner liable to others if there is fire on the owned property and the automatic sprinklers activate and cause water damage to the property of others?

It depends on how the lease is written. You may be liable if the damage was done as a result of actions caused by the landlord, and as such the landlord is responsible for the sprinkler system. How... Read More »

How to Find a Taxpayer ID Number?

A federal tax identification number (TIN) or employer identification number (EIN) is a nine-digit number issued to a sole proprietor, partnership or corporation by the Internal Revenue Service or t... Read More »

How to Get a Taxpayer Identification Number?

A Taxpayer Identification Number is a number used by the Internal Revenue Service (IRS) to record and track tax payments. There are several types of TINs that vary according to taxpayer category. T... Read More »