Property Seizures

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You have the right to representation by an Enrolled Agent (EA), CPA or Attorney.
You don't have to face the Internal Revenue Service alone, or at all!

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If the Internal Revenue Service has seized your property you may be able to get it released back to you, or you may be able to buy it back from them.  If you borrow funds from someone to get your property back, get that lender to file a secured interest in the property as soon as possible.  Once the Internal Revenue Service has released the property back to you, if you still owe them, they can seize that property again!

The Internal Revenue Service can sell property they seized from you to the general public.  This is usually done by sealed bid sale or an auction.  You can bid on the property yourself.  If you win the bid, it's an asset the Internal Revenue Service can seize again too!

Usually the Internal Revenue Service will sell the property for fair market value or enough to cover the taxes owing. In a lot of cases your property may be sold for 40-60% of its real market value.  You only get credit for what they sell it for, after costs of sale.

 

What's Exempt from Levy


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