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Resources:
Tax Education: Asset
Seizure
The IRS
has vast powers to seize assets. Virtually all property you
own, including most retirement accounts, homes, car, jewelry,
artwork, etc., can be seized by the IRS. Because of revenue
shortfalls, the IRS is increasing its asset seizures.
The IRS
must comply with many rules when conducting asset seizures. It
does not always comply with the rules, which gives ammunition to
taxpayers to temporarily stop the seizure. For example, the IRS
must first verify that it has the correct amount of the tax
debt, determine that there is no alternate less intrusive means
of collecting the tax debt, and make certain that the asset
about to be seized has equity available to the IRS.
And even
if the IRS has correctly met all the rules for asset seizures,
there are other defensive actions that taxpayers can take to
avoid the seizure. Professional assistance, however, is usually
required to stop a seizure. Call us.
For more information contact
us at taxhelp@taxdefendant.com
or
Toll Free 866-216-1930
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