Q: If I owe taxes on a property,can I sell the property to the goverment for back taxes and keep whatever is left.?
A:
Do you owe the federal government for IRS taxes or the local government for property taxes? If you owe the feds, they will probably lien the property. They can force you to sell it, but generally do so as a last resort. If you owe the county property taxes, they will sell a tax certificate to the highest bidder. If you don't pay, the bidder will take title to your property.
You can also look at filing bankruptcy if you owe taxes. Depending on the amount of taxes owed and the year that you owed, you usually end up paying less on tax debts through the bankruptcy.
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