IRS

IRS to help homeowners refinance or sell homes

Associated Press - December 16, 2008 2:13 PM ET
WASHINGTON (AP) - The IRS is trying to make it easier for homeowners in financial straits to refinance or sell their homes.

The tax agency says it will speed up a process where federal tax liens do not inhibit efforts to refinance or restructure a mortgage loan.

Under the process, taxpayers can request that a tax lien be made secondary to other liens, such as that of a lending institution, or removed from the property a person is trying to sell.

"We don't want the IRS to be a barrier to people saving or selling their homes," said IRS Commissioner Doug Shulman.

On the Net:
Internal Revenue Service: http://www.irs.gov

Copyright 2008 The Associated Press. All rights reserved