IRS Tax Lien Subordination in Stamford, Connecticut: Having the IRS agree to subordinate its lien for a new creditor may not be as taxing as you thought!
By Eric L. Green, Your IRS Tax Litigator
(Tax Rep LLC)
We frequently represent clients who have a federal tax lien for outstanding IRS federal tax debt and can now obtain financing from a new creditor who insists the IRS subordinate its lien to their lien. The IRS often agrees to a subordination, which means that it will agree, in writing, to allow another creditor to lend money to the taxpayer and have that lenders lien take priority over the existing IRS tax lien. Inn order to obtain a subordination, we make a written request with very specific information that demonstrates how the IRS’s ability to collect the old tax debt will be improved by agreeing to subordinate its federal tax lien for the new creditor. These include: The proceeds loaned will be used to pay down the outstanding federal tax debt; and The proceeds loaned will help im...