What You Should Know
Despite public perception to the contrary, seizures of taxpayers’ assets are neither a common nor practical action of the IRS. However, when seizure of a taxpayer’s asset does occur, the effects can be devastating. In general, if the IRS is considering taking seizure action against you, it may pursue any and all of your real and personal property that contain sufficient equity. Intangible property, such as goodwill or rights to property, can also be seized.
How We Can Help
Seizure actions by the IRS are often a “last resort” and therefore allows plenty of time for taxpayers with adequate representation to resolve the tax dispute without the threat of an actual seizure. In most cases, effective communication with the IRS and a properly packaged financial analysis will help facilitate an amicable resolution without the need for a seizure.