Lien-Free Closings

Free Download · 14 Pages

The Real Estate Agent's Field Guide to the IRS

A working manual on the IRS problems that kill real estate closings — federal tax liens on title, unfiled returns blocking buyer qualification, the DTI trap, and the specific procedures that save deals other agents watch die.

  • How to spot a federal tax lien before the title company does
  • The five IRS procedures that clear a lien and save a closing
  • The buyer-side installment agreement DTI trap
  • The six-year rule for unfiled tax returns
  • Agent financial hygiene: the 20% rule, S-Corp decision, QBO integration
  • A 30-second intake script for every new listing appointment

By Darrin T. Mish, Esq. — 32 years of federal tax practice, over $100 million in IRS tax debt resolved.

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What's inside

Part I

Agent Financial Hygiene

  • — The 20% rule and quarterly estimates
  • — MileIQ, Shoeboxed, and QuickBooks Online integration
  • — The S-Corp decision and LLC vs. Inc.
  • — The six-year rule for chronic non-filers

Part II

Liens That Kill Closings

  • — How to spot a lien before title does
  • — Certificate of Discharge (§6325(b)(2)(A))
  • — Subordination for refinances (§6325(d))
  • — Withdrawal under the Fresh Start Direct Debit pathway

Part III

Other Transaction Killers

  • — Short sales and §108 cancellation of debt income
  • — §121 primary residence exclusion traps
  • — Levy on closing proceeds
  • — Innocent spouse relief in transaction contexts
  • — Estate sale tax liens
  • — The buyer-side installment agreement DTI trap

Part IV

Collection Alternatives

  • — Installment agreements (§6159)
  • — Offers in Compromise (§7122)
  • — Currently Not Collectible (IRM 5.16.1)
  • — Penalty abatement
  • — Collection Statute Expiration (§6502)

"This piece has two jobs. The first is to keep you off the IRS radar. The second is to show you how to spot a transaction the IRS is about to kill, and what to do about it before you lose the commission."

— From the introduction