I am in a bit of a dispute with the IRS and they have informed me they are placing a lien against my "property and assets" (which are essentially non-existent by the way) and it would also cover any property I might acquire in the future. This action would also be reported to my creditors. Is it legal, or customary to place a lien on something and not specify what it is? My thoughts on this is it is equalivent to a DA seeking a warrant on someone for "anything you ever did or might do in the future". Right, wrong? Anyone??
2006-09-11 04:52:05 · 5 answers · asked by jberrie33 2 in Politics & Government ➔ Law & Ethics
Yes, the IRS can and WILL place a levy against all your assets, including property, car, etc. Believe me, they will do as they say. If you don't have anything, they can't take anything. Even if you are working, they will garnish your wages, social security, retirement, bank account, etc. And, anything you may acquire (in your name) in the future will also be frozen. Have you talked to a CPA? It may be in your best interest to do so, just to see what can be done on your part, if anything to stop the harrassment.
Actually, unless and until your receive notice of levy, they won't do anything. You will get a letter from the US Treasury Department with the info as to what they are doing. You will also pay up to 8% or more interest per month for the unpaid balance, and this adds up to a bill that can never be paid.
It sorta leaves you between a rock and a hard spot. Remember, with IRS, you are assumed guilty, until proven innocent. I wish I could help and say something positive about this situation, but unfortunately there is nothing that can be done, except make arrangements to pay a very small affordable amount to those folks. Whether or not we think we have done what is right, is not necessarily what they consider right.
2006-09-11 05:19:54 · answer #1 · answered by skyeblue 5 · 0⤊ 0⤋
They did specify, "property and assets" and that's what they mean.
Any and all property that you own, house, car, or whatever you could sell to make money and has a title, is considered 'property'.
Assets usually refer to money in any kind of account, stocks or bonds and tax returns.
They seem to think you owe them money and they want it back, not that you're a potential murdered and they're readying a case against you now to avoid the rush.
2006-09-11 12:21:53 · answer #2 · answered by Lucianna 6 · 0⤊ 0⤋
That's generally something the IRS can do. The IRS has very broad powers, and while not everything they do is actually legal, it's usually much more expensive (and dangerous) to try and fight them on the issue than it is to pay what you owe.
2006-09-11 13:38:03 · answer #3 · answered by coragryph 7 · 0⤊ 0⤋
IRS laws have been tested in court and found valid many a time. They can do and do all the time. Pay your taxes and get them off your ***, they will haunt you for every last nickel.
Right or wrong it doesn't matter, it's legal.
2006-09-11 12:17:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
That's right.
2006-09-15 01:37:47 · answer #5 · answered by Anonymous · 0⤊ 0⤋