By greenberg law group, p.a.

Can The IRS Take My Home?

So, Can The IRS Take Your Home?

To answer the question, “Can the IRS take my home?” keep swiping forward!

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Individuals who fail to address their tax debts may face hefty fines, severe legal consequences, and potentially losing their homes.

There are stages that the authority must follow that involve sending notices and providing options for taxpayers to address their debts. That’s why it’s important to know your options so you can manage your debts effectively and prevent further problems.

IRS in Tax Collections

The IRS is responsible for collecting taxes and overseeing all tax-related actions. This includes managing tax liens, levying assets, and pursuing other legal measures to enforce the country’s tax laws. Whether you’re  an individual taxpayer or a business entity, you’ll interact with the IRS to fulfill your tax obligations.

Process of IRS Seizure

The IRS adheres to specific mechanisms and processes to ensure transparency and fairness. There are steps that the authorities must follow, including informing taxpayers.

1. Issuance of a Federal Tax Lien

2. Final Notice of Intent to Levy

How Do I Know if IRS Will Take My Home?

The IRS has the legal authority to seize assets, including your home, but only under certain circumstances!

Remember that taking your assets is the last option that the IRS will take if you continue to fail to pay off your debts.

Significant Tax Debt and Non-Compliance

If you have a substantial debt and consistently miss payment deadlines while disregarding IRS notices, particularly the Final Notice of Intent to Levy, this constitutes a severe form of non-compliance. This increases the likelihood of your home being seized.

Exemptions and Protections

Exemptions and protections for taxpayers are in place to offer relief and safeguard  assets in certain situations.

These options include entering into a payment agreement, appeal certain IRS actions, or filing for bankruptcy.

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