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Abstract: 

There is always a chance that a borrower will also owe money to other entities than its banker, and the chances are greater than usual during difficult financial times. A bank whose borrower owes money to the IRS will want to be a secured lien holder with first priority position. While this is not always possible, there are critical due diligence steps lenders should take to protect themselves.

Keywords: due diligence, tax lien, secured lender, IRS levies, reasonableness standard

Affiliations:  .