Enforcing the tax obligations of each taxpayer is one of the most important functions in the variety of tasks that the Internal Revenue Service (IRS) carries out.
The above, in the case that a person evades this type of civic duties, also allows the IRS to implement various measures that can range from minor penalties to more severe punishments on assets.
But, what assets can the IRS seize, what measures does it implement to warn the taxpayer, and how does it carry out these actions?
IRS measures to enforce the law
In the first instance, and according to what the same organization has established, the IRS has the legality to seize various assets of the taxpayer who does not fulfill their tax obligations such as:
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Salaries
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Money from their bank or another financial account
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Vehicles
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Real estate
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Personal property
Prior to this action, considered as the final measure, the governmental organization carries out a series of actions to understand the tax situation of each taxpayer. However, and even before this investigation, the IRS implements a specific process to notify the person in question regarding their tax obligations and compliance with them.
For this purpose, it carries out the following strategy:
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The IRS determines the tax to be paid by the taxpayer.
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Sends a bill to the taxpayer with the obligation to pay.
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If the person does not make the payment or contact the institution, the IRS sends a Final Notice of Intent to Levy and Your Rights. This notice is sent at least 30 days before the imposition of the penalty.
Once the taxpayer receives this notice, it is essential to immediately contact the IRS within a 21-day period from the date of arrival of the notification. Through this contact, both parties can work on a bilateral agreement to settle the debt in the most beneficial way.
However, and in case the person continues to evade this type of notices, appropriate measures will be taken for the seizure of assets.
If you do not respond to IRS collection notices, and do not work with the IRS to resolve your tax debt, the IRS may seize your property”
* This article has been automatically translated using artificial intelligence