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Landlord owes the irs 25k.. Anyone know about lien sand property seizure?

mowood3479

mowood3479

Active member
Veteran
So my landlord (a longtime friend) owes the irs nearly 25k. ( This past year he filed like 8 years of tax returns to the irs. ) He just received a bill for 25k like a week ago and he doesn't have really any $ to pay them.. But he does own two houses (one of which I rent for twice its worth on the rental market)
I imagine the irs will end up at the least putting a lien on the place or at worst seizing the property for auction.
Anyway, Since I've got some things going on... Revenuers, appraisers, inspectors and really any visitors are unwelcome at the house I'm renting.
I was hoping some ic people's could share some experience with this..
How long do I have before the govt comes around?

My landlord is going to try to set up a payment plan but I'm skeptical that the irs would even bother with that..
At least he is being straight with me about what's going on...
I read on the irs website that they can move to seize a property within 45 days of an unpaid tax bill..
That's scary...
Anyone with some info, experience or general advice I'd love to hear it.
Thx
 
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1

1kBushes

Member
They will give him a one year payment plan most likely... with interest of course. Don't make it in the 12 months and he gets penalties plus more interest.

That would really suck to have the property seized, I'm sure worst case he can get it on the market and communicate to the IRS he will pay in full when it sells. I think he should just stay in communication with them, cooperate, etc. I think seizures happen more often then not to people that are straight up not trying to pay or communicate anything.
 
mojave green

mojave green

rockin in the free world
Veteran
They will let him on payment plan not limited to one year. Just depends what he can work out with them.
 
mowood3479

mowood3479

Active member
Veteran
shithawk420 said:
Why would you pay twice the rental rate?
Click to expand...

Because the landlord knows what Im doing with the house... And I felt like it was worth it to me to pay more n have a landlord I trusted n didn't have to explain why I can't have insurance inspectors or bank people or any other visitors...
Then to rent a house from a random stranger and hope they won't need access to the place someday..
I've played that landlord game and didn't enjoy it... So basically I pay the extra $ for the peace of mind of knowing I'm not gonna be bothered..,
But I'm def Thinking about pulling up the stakes and moving the circus since this irs thing...
Def not the worry free rental environment I was hoping for..,
 
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R

Ready4

Active member
Veteran
If he makes any effort at all, they will certainly set up a payment plan for him - that is a rather small amount to owe compared to what many people have fallen behind on. He can even bargain some for a lower payment possibly, it is far easier for them to set up a payment plan than go through other measures.
Since you are paying him double rent, he should damn well be able
to make payments as their payment plan will reflect a payment that
is in line with his income. Very easy for him to do, ignoring the problem will bring trouble for him. Use some "friendly" persuasion for him to get his butt in there to set up a payment plan.
 
mojave green

mojave green

rockin in the free world
Veteran
No doubt, I owed em $20,000 once. Felt like I payed forever. All done.
:biggrin:
The irs don't fuck around though. You will pay, one way or another! When you start getting certified mail from them, it's time to pay attention.
They will allow payments, mine were longer than a year.
 
U

usda101

Active member
I'm sure getting double the rent without sacrificing equity is more attractive to him . Changing the terms may ruin things between u ??
 
M

MileHighGlass

Senior Member
Paying double rent for a landlord that "approves" of what you are doing is pretty standard here in Denver now. Way better than the alternative.
 
Cannabis Motiva

Cannabis Motiva

Member
I don't have any advice for you but you can tell your landlord that I said he should have never filed..

If you don't file for a long time, and then suddenly file, you better be prepared to pay up. If he hadn't filed, he wouldn't be paying shit.

Then again, I don't know his specific circumstances so maybe what he did was necessary.
 
mrS0ul

mrS0ul

Meatball in Residence
Red flag.

If your paying double the market rate yet he has no money then..

A. Your in a sinking ship and the feds are right around the corner. Party's over.

B. You rent is making both house notes so foreclosure is eminent. Majorly fucked. See A.

C. If both houses are paid for and you are paying double the market. See A.

or

D. He owns both outright or not. 25k is small time chump change to the IRS. I negotiated mine down sitting across my kitchen table [and grow spot] Similar situation multiple years unfiled. Started me way high like 80k and we worked it out for $9800 [plus fees and interest so say 10,200 and interest on outstanding] I paid $25 a month for the first year. This I was advised [by the agent] would keep leins from occurring. Which it did.

The guy was reasonable and rational kinda like a douchie used car hack but then I am always looking for common ground and not acting terrified. Just sober concern. They don't have horns and unless you are in wwaayy deep your small potatoes. Un petito potatoe.

Two words. Proactive Communication.
 
mowood3479

mowood3479

Active member
Veteran
Financially my buddy/landlord is a mess. He thought if he filed all his missing tax returns he could then refinance his property to buy some equipment he wants for his business.
He's my friend but he is awful with $ and doesn't work with any regularity... He's also not what I'd call a people person.
So... Yea, I've had a good run at this spot. Gonna finish out and bounce I think.
The landlord will be in a better position with me gone since he'll be able to sell the place and pay some of his debts.
I'm just bummed.. I've been telling him for years that I'd teach him to grow herb... So he could make some $ and keep his family property... But I guess it's not for everyone
 
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