(800) 853-2651
SHOP NOW

IRS Auction (Local Contractor)

RBnSC

RBnSC

Well-known Member
Went today to preview an IRS auction selling out a local site work contractor. Nice well kept equipment, trucks, and tools. I have several misgivings First they are not guaranteeing titles, second I have suspicion that they are going cancel it at the last minute last I did business with their Dad I hate to see them sold out. Grapevine says their tax lawyer has skipped town and had not filed since 2006. What do Yall think? Would You try to buy under these conditions.
Ron
 
I went to an IRS sale near Dayton ohio a few years ago.It was construction equipment to.They sold the tax lien along with the equipment.A
20000 dollar dozer brought 500 bucks.The buyer was responsible for the 20000 lien.
 

I wouldn't buy a vehicle at an auction unless the title was on hand, ready to be transferred to me.

KEH
 
How is it possible to not realize your business taxes have not been filed for 8 yrs. Definitely more to the story.
 
(quoted from post at 17:59:26 04/01/14) How is it possible to not realize your business taxes have not been filed for 8 yrs. Definitely more to the story.
Click to expand...
here has been some stories on the news lately, may have been about the same tax lawyer, he was billing the customers, including amount for the taxes, and pocketing it. seems there were several businesses trying to straighten it out with IRS.
 
I would be a little concerned.To much trust in your attorney isn't a good thing.

Vito
 
IRS will not have an auction if they dont have titles to issue what good would it do them to sell something and cant give ownership to the buyer. If IRS is holding the sale everything will be OK.
 
(quoted from post at 02:11:38 04/02/14) IRS will not have an auction if they dont have titles to issue what good would it do them to sell something and cant give ownership to the buyer. If IRS is holding the sale everything will be OK.
Click to expand...
I agree.
 
It will be mortgaged equipment, the IRS does it all the time, they basically auction the ''rights'' to take up the mortgage. Nice, clean, well kept equipment does not seem to jibe with people too stupid to ensure their taxes are being paid.
 
(quoted from post at 03:40:58 04/02/14) It will be mortgaged equipment, the IRS does it all the time, they basically auction the ''rights'' to take up the mortgage. Nice, clean, well kept equipment does not seem to jibe with people too stupid to ensure their taxes are being paid.
Click to expand...
You'd think the mortgage holder would have a say in who they are loaning money to.
The examples I've seen is the IRS lien trumps the bank. Once the IRS lien is satisfied then the creditors might get some of their money.
 
You must log in or register to reply here.
Tractor Parts Tractor Manuals

We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today.

Copyright © 1997-2024 Yesterday's Tractor Co.

All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters
Website Accessibility Policy

Back
Top