Will the IRS take your assets or force you to liquidate assets in order to satisfy your IRS back tax liability? The IRS can, with a few limited exemptions, seize your assets to satisfy your IRS back taxes. However, if you have competent legal representation, this should not happen to you unless every other collection …
Notice of Levy: Will the IRS Seize Assets or Force the Sale of Them? Read More »
The answer to this question will depend on whether the liability is a joint liability or separate liability and whether you live in a community property state or not. If the IRS liability is a JOINT liability then YES, the IRS may levy both your and your spouse’s wages, assets, and/or accounts. When it comes …
Will The IRS Levy My Joint Bank Account With My Spouse? Read More »
In 2008 the United States, along with much of the rest of the world, witnessed a financial crisis of devastating proportions. In response, the federal government issued bailouts to the major banks after deeming them ‘too big to fail.’ Small businesses, however, were trying to get back on their feet but were being denied even …
The IRS Fresh Start Initiative – A Welcomed Relief to Taxpayers Read More »
