Yes, the IRS can seize your property, but, certain guidelines and restrictions are more stringent today than when first implemented. It used to be quite a common practice for the IRS to seize your property and sell it, without so much as a court order. This was especially commonplace for businesses that were delinquent with payroll taxes. If you have proven to be a delinquent taxpayer, items such as cars, home furnishings and entire homes, business equipment, and machinery can be seized by representatives of the IRS. They will sell your assets and property to pay the amount of taxes you owe and have not paid.
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The IRS can use wage garnishment as one way for them to obtain the amount of back taxes you owe. If wage garnishment has already happened to you or if it is a possibility in your future, you have IRS Problems. The stress caused by any IRS Problem can put a strain on both you and your family’s financial and emotional situation. Let our knowledgeable staff work with you to solve your IRS Problems. We can help you stabilize your finances and free you and your family of this worry.
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Seized Property Recovery
The IRS uses the collection power of a levy to seize your property and wages as settlement for non-payment of tax debt. If your assets have been seized by the IRS, you have big IRS issues and major stress in your life. You will find that it isn't easy to get an asset back once it has been seized. The intention of the IRS is to sell your assets and use the money from the sale to pay off your tax debt.
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Risks to Your Pension
IRS problems can bring you and your family a lot of stress. You've labored hard all your life to be able to have a home and a car. Now they could be taken away by the IRS. They've served you notice stipulating that in order to pay off the tax debt you need to pay, your assets are going to be seized. They can do it. Can they take your car, your home, even your pension?
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It is daunting to realize that the IRS has put a levy on your bank account. It's going to change your and your family's life greatly. What is there to do?
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