What do IRS seizures mean to you?
The final step in the IRS collections process is a seizure. At this point the IRS will take everything you have left to satisfy the debt they believe you owe!
Unlike an IRS levies which involves intangible assets such as your bank account, a seizure is the taking of physical assets, including your home, cars, boats, jewelry, motorcycles, insurance polices, and even your retirement funds. Seizures usually happen in aggravated cases when someone ignores multiple requests by the IRS to pay their outstanding taxes.
IRS Seizures are an extremely aggressive action. The IRS will ultimately pursue seizure of every physical asset you own to settle your debt. Don’t think they won’t. Many newspaper and television shows have reported citizens being forced out of their homes after it was sold at an IRS auction, often for as little as half its value.
Don’t let this happen to you.
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