Can The IRS Seize My House?

The inability to pay taxes can have serious consequences. As with any debt, the amount you owe will continue to accumulate, and you will also be responsible for paying interest. In Pennsylvania, individuals who fail to pay taxes for two years may have their real estate holdings seized and auctioned off.

Based in Wilkes-Barre and Philadelphia, and serving throughout The Commonwealth, the attorneys at Vinsko & Associates, P.C., can assist individuals in their efforts to find relief. For more than a decade, we have helped individuals keep their assets and reduce what they owe to the IRS.

What Is An Offer In Compromise?

The IRS has a program in place to reduce individuals' unwieldy tax obligations. Known as Offer in Compromise (OIC), the program enables individuals to negotiate and reduce what they owe. This is a powerful means for individuals to keep their assets and eliminate their tax-related debts.

Yet OIC matters can be difficult to file successfully. One must be able to prove that one cannot reasonably be expected to pay what the IRS says they owe. The IRS investigates such claims, taking a range of factors into consideration, including:

  • Debtor's income
  • Debtor's asset equity
  • Debtor's day-to-day expenses
  • Debtor's other liabilities

The IRS can be hasty in their investigations and fail to develop a full picture of an individual's financial situation. Indeed, many taxpayers find their OIC petitions rejected.

This is why finding an experienced lawyer can be crucial. At Vinsko & Associates, P.C., we understand how the IRS assesses a case, and have more than a decade of experience advocating for our clients and asserting their priorities.

Get Out From Underwater

To learn more about how we can assist, reach out to our firm. You can call our office at 570-550-0815 or 215-278-4767; consultations can also be arranged through our online form.