Released: December 17, 2008

IRS helps homeowners

Source: Sandra Block, USA Today

In an effort to slow the rate of foreclosures, the IRS announced Tuesday that it will make it easier for financially distressed homeowners who are behind on their taxes to refinance or sell their homes.

The IRS issues more than 600,000 tax liens a year against taxpayers who are delinquent on their taxes. When these liens are attached to homes, they can make it difficult for homeowners to refinance or sell their homes, IRS Commissioner Doug Shulman said.

“At the IRS, we need to ensure that we balance our responsibility to enforce the law with the economic realities facing many American citizens today,” Shulman said.

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