An elderly woman feared the IRS would seize her home despite paying her taxes. Mark Kohler discovered her son was listed as co-owner on the title, which exposed the property to his tax problems. The story shows how property ownership details can create unexpected tax liability.
At this point, I want to tell a quick story that you've heard this story before 'cause it's just so powerful. But I had this little grandma, adorable. She came to my office and she was just a wreck emotionally. And she said the IRS was coming after her home. And I was like, oh my gosh, what, have you not paid your taxes? No, I always pay my taxes. And she had her tax returns, she had the notices from the IRS, and they were all confusing to her. They're kind of in a shoebox, which is a normal situation, right? And she was like, what do we do? What do we do? And I was like, man, I just can't make sense of this. Your taxes are paid, da da da da da. And I start looking through her paperwork And all of a sudden I go, whoa, this is the title. Your house is paid for, right? Yeah, yeah, it's paid for. I pull out the title and there's her kid's name on title. You know where this is going. And I said, does your son have tax problems with the IRS? And she just went white and she just, uh, yeah.
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