Assets Seized: Here come the Men in Black. They knocked on your door and took your cash, cars, your jet skis, and even Fido's house! Let's face it. If you made the IRS go through the trouble of seizing your assets, you ignored them for far too long. It's going to be hard to get your doghouse back, but there's still hope.
What Will They Take? Practically everything. The IRS can Levy just about everything you have that they don't consider a “basic necessity". Luxury items will be the first thing that the IRS seizes. This includes cars, boats, motor homes. . . etc. Even your family heirlooms aren't safe from an IRS Tax Levy.Get It Back: Consider one of these 7 options for getting your assets released.
- Pay the debt. I know I'm throwing in an obvious one, pay your debt and you get your assets back. Most people can't afford to do this option.
- Qualify for financial hardship. Prove to the IRS that seizing your asset(s) will affect your welfare negatively. Understand that you'll need substantial evidence to get Hardship Status.
- Put out a bond or substitute collateral. Take note, this has to be equal to the value of the seized asset.
- Declare Bankruptcy. This can stop further IRS action. But beware, interest and penalties will still continue to accrue on your debt while you wait for you bankruptcy to be approved. If your Bankruptcy is dismissed, you will still owe the original debt plus interest and penalties!
- Do the math. A fraction of the seized property can be returned if it's more than what you owe.
- 10 is the magic number! If the 10 year statue of limitations has expired when the IRS seizes your assets, you can have your property returned to you.
- Prove you need it. The IRS wants you to earn money. You have to pay them somehow, right?Prove to them that you need the asset(s) they seized for your work and they'll let you have it back.
Warning: I'm not going to mislead you and say any of these steps are going to be easy. Chances are high that you're never going to see your boat or your jet skis again. But if you research and work carefully, you can win an asset back. Just be careful. One mistake and the IRS can keep your valuables forever.
Now You Have the Smoking Gun. . . Use it!
Richard Close was an IRS-Hitman. He was a revenue officer who took out anyone that owed the IRS money. He left that behind and now helps thousands of Americans beat Uncle Sam and save thousands of dollars. The IRS-Hitman can help you with your tax debt problems. He has partnered with Tax Defense Network to offer free advice and tips on removing wage, bank, and tax levies; and arms you with the skills to slash your tax debt. Visit at: http://www.irs-tax-levy-hq.com Contact: http://www.taxdefensenetwork.com or call 1-888-248-9058