What Is The Difference Between IRS Auctions And A Tax Deed Auction? – Video

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There are differences – and possibly some similarities between IRS auctions and tax deed auctions. They might sound like the same thing, but they differ in more ways than one. First, click here to access your free gift from Ted Thomas 👉 https://tedthomas.com/free

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Key Moments In This Episode
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00:00 Intro – Difference Between IRS Auctions and Tax Deed Auctions
00:21 How does property tax work?
01:21 Property tax lien priority vs IRS lien priority
01:49 Property tax lien priority vs priority of other liens
02:24 Learn more about tax lien certificates and tax deeds

What To Watch Next
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What Is A Tax Deed Sale?

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An IRS Auction Explained

The Internal Revenue Service, or IRS, holds IRS auctions where they sell items they have confiscated. This usually happens because of failure to file tax returns or other tax-related violations. This is sometimes called the IRS collection process or “repossession.”

A Tax Deed Auction Explained

During a tax deed sale, the property is sold. The sale takes place via public auction, and the minimum bid for the property is the amount of back taxes owed plus interest and costs associated with selling the property. The highest bidder gets the property.

The Differences Between The Two

The main difference between an IRS auction and a tax deed auction is that the IRS auction is debt owed to the IRS, while the tax deed auction takes place before anything goes to the IRS. This means that the IRS can not interfere with a tax deed auction.

Learn More About Tax Deed Auctions

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