Can I Buy A House If I Owe Taxes

Can I Buy A House If I Owe Taxes

can i buy a house if i owe taxes

Do you want to buy a home and wonder “Can I buy a house if I owe taxes?” It is very common for people who owe back taxes to be worried about the possibility of not being able to purchase a home. Many people are not able to keep up with the payments for personal loans, mortgages, or tax liens, and end up losing the home they worked so hard to obtain. When looking to purchase a home you need to make sure that you pay the back taxes on time. In order to determine whether you owe taxes or not, you will first have to find out if you do or you don’t. The most important question when trying to figure out “Can I buy a house if I owe taxes?” is “What is your actual balance owed?” This question alone can help you determine if you owe taxes to the government. If you do owe taxes, it is important to know what those taxes are, when you owe them and how much is due.

can i buy a house if i owe taxes ? Possibly but not quite

You can find out what you owe by contacting the IRS. The IRS is required by law to give you a free credit check that can help you determine if you do not owe any taxes. Once you receive this free credit check, take the amount on the credit and hire an accountant to calculate what your tax liability actually is. Remember, you do not need to pay the entire amount at once. If you can afford it, simply pay a few monthly payments until you get back on track and the IRS gets their money. Some people feel scared when they realize they may owe back taxes because they might lose their home if they don’t pay up. You can avoid losing your home if you owe taxes and have the resources to pay them. Some tax liens are easier to pay off than others and if you’re able to pay them quickly, you’re more likely to be able to save your home.

If you owe back taxes, but don’t know what the exact amount is, it’s best to contact an accountant to help you figure out the total. There are many companies online and in your local yellow pages that specialize in helping taxpayers find out what they owe the IRS. Many of these companies offer payment plans that will allow you to pay back taxes at a reduced cost, helping you avoid having to worry about losing your home. When you’re wondering, “Can I buy a house if I owe taxes? “, you should be confident in your ability to figure out what the total is. Contact an accountant to help you pay it off now. If you are unable to pay the entire amount, it may be wise to ask the IRS for a partial payment installment agreement that can keep you from losing your home. They may also be able to provide you with options to help you eliminate or lower your tax debt in the future. Call us today for a free tax relief consultation.

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