Tax Debt Collection

The IRS is responsible for collecting taxes. This body is also mandated to enforce tax debt collection. In some instances, this will involve a criminal investigation. At other times the IRS and similar municipal, county and state organizations, will employ aggressive measures against tax debtors. Liens against property are a favorite ploy to make the tax debtor come up with the necessary funds to pay the debt. In this method, the tax agency lays a lien against any real property. They take over the business or home until the debtor comes up with the overdue and/or back taxes. In many instances, the tax agency strikes an agreement with the debtor to pay back the taxes in installments. Tax debt collection may also involve wage garnishment. This is particularly effective if the derelict taxpayer is a salaried employee. If it is considered prudent and effective, the tax debt collection system of the agency will seize any assets. This will include bank accounts and even insurance policies. Furniture, pensions and other forms of property and income may be utilized by the "Tax Man" as a means of assuring tax debt collection is complete.

Fast Facts

  • There were 3,789 criminal income tax investigations by the IRS in 2008.
  • Of the overall $345 billion owed as part of the "tax gap" 25% was the result of failure to file individual income taxes.

tax debt collection - Lawyers, Articles and Q&A

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Articles

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  • IRS Tax Partial Payment Plans

    For individuals dealing with an IRS debt, the process can be painful and extremely stressful.  Among other thi...
    • Site: taxationlawfirms.com
  • Alaska Debt Collection Laws

    Those who fall behind in their financial obligations can expect to hear from their creditors or, eventually, d...
    • Site: debtsettlementlawyers.com
  • Alabama Debt Collection Laws

    No one wants to face out-of-control debt; however, there are circumstances where borrowers may be unable to ke...
    • Site: debtsettlementlawyers.com
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  • Connecticut Debt Collection Laws

    While debtors have an obligation to pay their creditors, when they are unable to do so, they have the right to...
    • Site: debtsettlementlawyers.com
  • Pennsylvania Debt Collection Laws

    In 1978, the federal government adds The Fair Debt Collection Practices Act and the Fair Credit Reporting Act ...
    • Site: debtsettlementlawyers.com

Q&A

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From Around the Web

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  • Beware of Tax Relief Scams

    They appear on late night television and on the internet promising t...
    • Site: lexblog.com
  • July 14 roundup

    “Sources: Trial lawyers expect tax break from Treasury Department” [...
    • Site: overlawyered.com
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