January 28, 2010

What to Do about IRS Seizures

What can you do if the IRS wants to seize your property to pay off your tax debt? If you have found yourself in this situation, you most likely have been ignoring the IRS' phone calls and letters or you have challenged the IRS' assessment of your tax debts. Whatever your case may be, the following options may be able to buy you enough time so that you can gather together the cash you need to make some payments on your debt.

If an impending seizure is on the cards, it is advisable for you to contact a lawyer. Dealing with the IRS can be extremely confusing and one-sided. This is because of the complex legal matters involved and the fact that without legal counsel you are at a distinct disadvantage. If you are risking having property, cash, or belongings taken and auctioned off by the IRS to pay your debt, it is time to bring in the legal eagles.

Secondly, talk to the IRS in an open manner. If you have been civil with them up to this point but things have still gotten this far, then you likely already know what your options are. Nevertheless, if you communicate openly with the IRS and frankly explain to them your situation, your action may stave off the seizure. In reality, it costs the government money and time to seize your property so if it can be avoided, it would be in the best interests of all parties. Therefore, if you can present any other kind of options, the IRS will be more than willing to listen.

Thirdly, you could list out all the properties that are seized and identify those which do not belong to you and therefore should not be seized. It is up to you to check and double-check the list of property that is due to be seized in case some of it belongs to others. You are required to then notify the IRS of this so that proper actions can be taken.

Finally, it may be practical to come to an agreement with the IRS on a payment plan. Such a plan may have been suggested by the IRS themselves to you before, in which case you can just fall back on it now. Since you are facing the possibility of a seizure, you might as well take up this option, even if you are sure that it will not work. Agreeing to a payment plan permits you to keep your property and it allows you to have extra time to try and work out what to do next. It is a win-win situation all around and it helps you avoid IRS seizures.

Darrin T. Mish is a veteran, nationally recognized tax attorney who has focused on providing IRS help to taxpayers for over a decade. He regularly travels the country training other attorneys, CPAs and enrolled agents on how to handle their toughest cases with the IRS. He is highly ranked among the top attorneys in the country, with an AV rating from Martindale-Hubbell and a perfect 10 on Avvo.com. Martindale-Hubbell has also honored him with a listing in their Bar Register of Preeminent Lawyers. He is a member of the American Society of IRS Problem Solvers and the Tax Freedom Institute. With clients on every continent but Antarctica, he has what it takes to solve your IRS problems no matter where you live in the world. If you would like more information about his practice and how he can help you, please call his office at (813) 229-7100 or toll free at 1-888-GET-MISH.