Owe the government back taxes?

Federal taxes owed

Did you know that if you fail to pay your income taxes to the IRS, they have a full arsenal of weapons they can use to recoup those funds? Owing federal taxes, for whatever reason, can lead to a very uncomfortable situation for anyone unfortunate to find themselves there. For those people in a large amount of debt to the Internal Revenue Service, the most persuasive weapon the government can use to get them to pay their debts, either by choice or force, is a taxy levy on their property.

What exactly is a tax levy? After going to court and seeking the approval of a federal judge, the IRS places a lien on a car or home which can enable them to possess it and sell it, using the money gained from that sale as a means of satisfying a debtor’s account. This possibility is just one tactic the government takes whe Continue reading Owe the government back taxes?