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Posts Tagged ‘irs tax levy’

When the IRS Seizes Property

January 22, 2016  |   Tax Advice,Tax Tips   |   Tags: , , , ,  

If a taxpayer owes back taxes and did not make satisfactory efforts to resolve them, the IRS can ultimately seize the individual’s property. The government can seize the property, bank account, wages or a taxpayer’s assets to recover unpaid taxes. Typically, seizing physical property is a last resort method. IRS Collection Action When the IRS seizes property, they will sell the taxpayer’s interest in the property and ...