The IRS Seizing Assets - The IRS can Levy more than Just Accounts and Wages
A friendly warning...
As a former IRS-Hitman, we would seize assets of debtors with no mercy! I dealt with criers, screamers, fighters, and biters.
What do you do when the IRS shows up at your door ready to levy your stuff? The first thing to do is cooperate, there's nothing you can do to stop them, but they may cut you some slack if you work with them.
It starts with...
The IRS can levy just about everything you have that they don't consider a "basic necessity".
Luxury items will be the first things that the IRS seizes.
This includes cars, boats, motor homes...
etc.
As an IRS-Hitman I was able to get target's safety deposit boxes from their bank.
Even your family heirlooms aren't safe from an IRS tax levy.
What is safe? Can the IRS take every stick of furniture in your home and leave you sleeping on the carpet with nothing but candle light? Of course not, we would take the candle.
But seriously there are some things the IRS can't levy.
Not because the agents have a heart, but because the government does let you have a few things.
Let me give you the quick list of what you get to keep: Basic clothing, this doesn't include luxury items like designer suits, or fur coats.
This also doesn't include jewelry.
Some of your furnishings, the IRS has to leave you a bed, something to sit on, a refrigerator, and your stove.
If you cooperate with the IRS agents, they may let you keep a table.
Your home, but the mortgage payment has to be below the national and/ or local standard.
Otherwise, the IRS can levy that too.
One car if you can prove that you have to have it for work.
If you can't prove that, the IRS expects you to take the bus.
Tools that relate to your business, up to $3,125 because if you're a contractor the IRS wants you to keep making money they can take to pay your tax debt.
Unemployment benefits, worker's compensation, and public assistance are off limits to a tax levy.
Some disability and social security benefits, although these can be garnished up to 15%.
Court mandated child support payments.
Everything else is all good though.
Anything that you can prove is required as a basic necessity or related to work then it may not get levied,.
If you can provide the evidence to prove it, the IRS may let you keep.
Now you have the smoking gun...
Use it!
As a former IRS-Hitman, we would seize assets of debtors with no mercy! I dealt with criers, screamers, fighters, and biters.
What do you do when the IRS shows up at your door ready to levy your stuff? The first thing to do is cooperate, there's nothing you can do to stop them, but they may cut you some slack if you work with them.
It starts with...
The IRS can levy just about everything you have that they don't consider a "basic necessity".
Luxury items will be the first things that the IRS seizes.
This includes cars, boats, motor homes...
etc.
As an IRS-Hitman I was able to get target's safety deposit boxes from their bank.
Even your family heirlooms aren't safe from an IRS tax levy.
What is safe? Can the IRS take every stick of furniture in your home and leave you sleeping on the carpet with nothing but candle light? Of course not, we would take the candle.
But seriously there are some things the IRS can't levy.
Not because the agents have a heart, but because the government does let you have a few things.
Let me give you the quick list of what you get to keep: Basic clothing, this doesn't include luxury items like designer suits, or fur coats.
This also doesn't include jewelry.
Some of your furnishings, the IRS has to leave you a bed, something to sit on, a refrigerator, and your stove.
If you cooperate with the IRS agents, they may let you keep a table.
Your home, but the mortgage payment has to be below the national and/ or local standard.
Otherwise, the IRS can levy that too.
One car if you can prove that you have to have it for work.
If you can't prove that, the IRS expects you to take the bus.
Tools that relate to your business, up to $3,125 because if you're a contractor the IRS wants you to keep making money they can take to pay your tax debt.
Unemployment benefits, worker's compensation, and public assistance are off limits to a tax levy.
Some disability and social security benefits, although these can be garnished up to 15%.
Court mandated child support payments.
Everything else is all good though.
Anything that you can prove is required as a basic necessity or related to work then it may not get levied,.
If you can provide the evidence to prove it, the IRS may let you keep.
Now you have the smoking gun...
Use it!
Source...