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What is an IRS seizure and how to avoid it

The IRS can seize your property if you’re in debt to them. A quote from the IRS website:

“If the IRS seizes your house or other property, the IRS will sell your interest in the property and apply the proceeds (after the costs of the sale) to your tax debt.”

When your property is seized, it’s taken to a local auction to be sold to the public. This money will be used to pay off your debt.

How to get your personal property back from an IRS seize

If a seize is placed on you, contact the IRS immediately to have it reversed.

Further information from the IRS website:

“Contact the IRS immediately to resolve your tax liability and request a seizure release. The IRS can also release the seizure if it determines that the seizure is causing an immediate economic hardship.”

If you can prove that the seized property will cause “immediate economic hardship” to you and/or your family, you may be able to get out of a seize.

Personal property the IRS cannot seize

The IRS has the right to seize a wide variety of assets, but they cannot take everything. Here’s a brief list of things they cannot take from you:

  • Assests or sources of income that you and/or family need to survive on a daily basis (like a home or car)
  • Items that would prohibit a way to earn an income
  • Items necessary for work or school such as clothing or tools

Contact us if a levy has been placed on you to learn how to get out of it.

How to avoid an IRS seizure

1. Pay on time

Avoid a seize or levy by paying the full amount of taxes when they’re due.

2. Ask for an extension

If you need more time to pay it your taxes, ask for an extension. Usually, the IRS will grant a 120-day period of grace to gather payment with no penalties.

RELATED: What happens if you owe the IRS money and don’t pay

3. Coordinate an Installment Agreement

Set up an Installment Agreement to have it paid for in increments every month with interest added.

At McCauley Law Offices, P.C., our lawyers will find a solution to your tax problems, no matter how complex your IRS issue is. View our services and contact us (or call 610-388-4474) to schedule a free consultation with one of our tax attorneys. View and purchase Gregory McCauley’s published work “TAXJAMS: Simple Solutions” on Amazon. From our office in Chester County, Pennsylvania, we find tax solutions for clients throughout the country.

McCauley Law Offices can help!

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