Hello, we bought an estate from the location and we won. There is a Lin rite from the IRS and we have to wait 120 ...
Hello, we bought an estate from the location and we won. There's a Lin rite from the IRS and we have to wait 120 a day. I try to understand if I can start the renovation after closing and not wait for the 120 day and if the IRS will take the conference then we will get a refund on the renovation
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I would not recommend starting remodeling before the end of the 120 days. If the IRS decides to take the property - you will not get the cost of the renovation.
More than that, I heard a rumor that the Income Tax Authority likes to take properties that have already been renovated.
Maybe what you can do is rent the property for six months and then start renovating
A. Talk to an attorney
B. I know you can start - it's your property (not your income tax)
third. If it is possible that if the IRS will sell the property and will remain in excess of the sale then you will receive the surplus but the IRS has no interest in selling beyond the debt owed to it.
D. Talk to a lawyer !!!!!