New York is a big state with a lot of property changing hands, a lot of financing moving forward at fast clips, and a lot of paperwork being filed with county clerks. With so much going on, NY predictably created a complex system of laws relating to when, how and where closing papers such as […]
Category: mechanics lien priority
IRS Gives Priority to Mechanics Liens
In a general victory for contractors and suppliers owed money on a residential project, the IRS published final regulations (TD 9520) that govern the validity and priority of federal tax liens under IRC § 6323. Under IRC § 6321, the federal government has an automatic tax lien against any person who does not pay federal tax […]