Are My Assets at Risk? Here’s How to Prevent IRS Seizure
If you have unpaid taxes, the IRS can take your property to settle the debt.
It can be an overwhelming situation, but there are ways to protect your assets from the IRS. When you understand your rights, you can take proactive steps to protect your assets from IRS collection.
What is IRS Seizure?
IRS seizure is a legal process where the Internal Revenue Service confiscates your property or assets to cover unpaid tax liabilities.
This is usually a last ditch effort for the IRS in cases where their other collection efforts haven’t worked. The IRS can take a wide range of assets, including your home, your vehicles, bank accounts, investments, and even your business assets.
How Can I Protect My Assets From The IRS?
Protecting your assets from IRS seizure requires proactive planning and taking appropriate steps. Consider the following strategies:
Timely Tax Compliance: Stay current with your tax obligations by filing accurate tax returns and making prompt payments. Being up to date reduces the likelihood of triggering IRS collection actions.
Open Communication with the IRS: If you have financial difficulties, it’s important to maintain open and honest communication with the IRS. Be proactive. Reach out to discuss your situation and explore available options to address your tax debt.
Negotiate an Installment Agreement: Requesting an installment agreement allows you to pay your tax debt in manageable monthly installments. This can prevent the need for asset seizure by demonstrating your commitment to resolving the debt.
Offer in Compromise: An Offer in Compromise is an option where you can settle your tax debt for less than the full amount owed. Engaging in negotiations with the IRS to reach a reasonable compromise can help protect your assets from seizure.
Seek Professional Assistance: Consulting with a qualified tax professional, such as Ben Butterfield, can provide valuable guidance and expertise in protecting your assets from IRS seizure. Their knowledge of tax laws and experience in dealing with the IRS can significantly increase your chances of a favorable outcome.
Safeguarding your assets from IRS seizure requires careful planning and proactive measures.
When it comes to protecting your hard-earned assets, choosing the right tax professional is crucial.
That’s where Ben Butterfield, founder and CEO of BPB Tax Resolutions, comes in.
Ben has extensive experience and expertise in tax resolution, and is your trusted partner in defending your assets from IRS collection actions.
By working with Ben Butterfield, you can be confident that your assets are in capable hands.
Take the first step towards securing your financial future—contact Ben Butterfield today and benefit from his exceptional services in protecting your assets from IRS seizure.
