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Old 07-30-2016, 03:18 PM
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Join Date: Jul 2016
Location: native Texan
Posts: 2
Disputing back taxes owed to IRS during the process of selling my primary (and only) residence (which is registered as my "homestead" here in Texas)

An IRS lien has not yet been placed on my primary residence here in Texas, which I am in the process of selling and which I have signed a contract with the new buyer. Once I go to Closing, what will happen if i take cash proceeds from the sale of my primary residence (which is my only residence and the only asset that I own-I don't even own a vehicle) and if I purchase gold or silver coins/or ingots and hold them in a personal safe and not in a bank? I am disabled and the only income I receive and which I am able to live on, is a monthly direct deposit of $1885.00/month (after my Medicare gets automatically deducted) leaving me an annual income of $22,620.00/year (which is before Federal Income Tax is deducted). Thank you for your input and taking the time to share your advice with me. (Sorry for the extra word at the end of my title. It should read: "Disputing back taxes owed to IRS during the process of selling my primary (and only) residence (which is registered as my "homestead" here in Texas)" Kindest regards, BLG77047

Last edited by BLG77047 : 07-30-2016 at 03:30 PM. Reason: Extra word at the end of title, may be confusing.

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