What you need to know about IRS seizures

What you need to know about IRS seizures

In this video, Anthony and Claudine explain what an IRS seizure is, how a seizure happens, how to avoid a seizure, and how to get your property back after a tax seizure. The two also discuss how a seizure is different from an IRS levy or garnishment and the difficultly the government has in enforcing seizures on property held overseas. But the government does have some leverage -- they can revoke a US passport for tax debts over $50,000 Ultimately, an IRS seizure is the last resort. The IRS does not want to seize money. Running a government tax auction is very time consuming and the amount realized does not usually satisfy the entire debt. So the cash remains outstanding. Also, the IRS really doesn't want to seize a primary residence of a taxpayer. However, Anthony explains circumstances where it could happen...and how to avoid that situation. Parent & Parent LLP 60 EAST 42ND STREET SUITE 4600 New York, NY 10165 (212) 256-1335 http://ift.tt/1RfwK1f https://youtu.be/aYWdxvUzDIo IRS Medic