Few things are as stressful as the prospect of the government seizing your house or other property because of neglected or unpaid taxes the IRS says you owe.
If you’ve never had to worry about a federal Tax Lien before, or if you have one now, your chances of fighting it and retaining control of your property are far better with an experienced, licensed fighter like Apex Tax Defense on your side.
What is a seizure?
Essentially, it’s the result of a federal Tax Lien resulting from tax debt, when representatives of the IRS take control of your house or other property.
What happens after the seizure?
The IRS will sell your interest in the property and apply the proceeds (after the costs of the sale) to your tax debt. There are several steps involved.
Prior to selling your property, the IRS will calculate a minimum bid price. The IRS will provide you with a copy of the calculation and give you an opportunity to challenge the fair market value determination. The IRS will then provide you with notice of sale and announce the pending sale to the public, usually through local newspapers or flyers posted in public places.
After giving public notice, the IRS will generally wait 10 days before selling your property. Money from the sale pays for the cost of seizing and selling the property and, after that, your tax debt. If there’s money left over after your tax debt is paid, the IRS will tell you how to get a refund.
There are tools and strategies for fighting a seizure or minimizing its impact. For example, the IRS can release the seizure if it determines that the seizure is causing an immediate economic hardship. Contact Apex now so we can look at your situation, resolve your tax liability, and request a seizure release.