How to Recover Property Seized by the IRS

The Internal Revenue Service has the power to garnish your wages and seize your property in response to non-payment of taxes. If this happens to you, you are facing major difficulties. It is very difficult to recover property from the Internal Revenue Service once they have seized it. They are going to sell your property in order to satisfy your back taxes.

The obvious way to recover your property is to pay your entire tax bill, including penalties, fines, and interest. If this is not an option, there are a few other strategies.

You can file an Offer in Compromise, which is a direct offer to the Internal Revenue Service to pay your debt. You can also negotiate an installment plan with the Internal Revenue Service that will allow you to pay your debt through regular monthly installments.

You must prove that the release of your property is necessary so that you can make payments. You need your car, for instance, so you can work and pay off your tax debt.

There are some more ways also. You can prove that your tax debt is unenforceable because the statute of limitations (generally ten years) has expired. You can argue that the value of the seized property far exceeds your total debt and have some of your property returned.

The last, but not very useful strategy is - you can file for bankruptcy and that will stop immediate collection proceedings, but this tactic will probably only buy you time. In most cases the IRS will be able to come back after you later.

You might issue collateral or a bond equal to the value of the property taken.

You can prove that you own nothing worth taking and that your life will basically cease if they take anything from you. This is another stopgap measure that will leave you "temporarily uncollectible."
Consider this mild option also - You have the option to apply for financial hardship. You can request an appeal by teleconference with the manager of the Internal Revenue Service unit enacting the levy.

The point is that you need to fight for your property. Don't just let them take things you have worked hard to accumulate.
If the Internal Revenue Service seizes your property, you need to act right away. This problem will not go away simply by ignoring it. You might want to look into hiring a professional tax resolution service to aid you in this matter. If you decide to work with tax resolution professionals, you will want a diverse team to represent you. The best tax resolution teams consist of former Internal Revenue Service Agents, certified public accountants, and tax lawyers. Resolution professionals usually get strong, positive results quickly.

When IRS thinks that you owe taxes, it will naturally make all efforts to collect them. It will seize all your properties. Once the property is in control of IRS, taking it back is just like pulling something successfully from the mouth of a python! But remember, it is possible. How? Chintamani Abhyankar explains.

Chintamani Abhyankar, is a well known expert in the field of finance and taxation for last 25 years. He has written many books explaining inside secrets of the magic world of personal finance. His famous eBook Stop donating your money to IRS which is now running in its second edition, provides intricate knowledge and valuable tips on personal finance and income tax.