IRS enforced collection activity continues to heat up. Compromise settlements are down by 70% while bad debt accounts continue to accumulate. Here are the numbers: 1. 779,000 taxpayer accounts were assigned to the IRS collection queue. 2. The number of offers in compromises accepted by the IRS declined by 70% from 2001 (38,643) to 2007 (11,618). [...]
IRS Seizures
IRS collection letters often look similar, and all seem intimidating. But they are not. I get calls from my clients all the time who have received IRS collection letters and are in a state of anxiety. I ask them to read me what the heading of the letter says, and fax a copy over so [...]
The IRS has announced its public auctions of seized taxpayer property for June and July, 2008. Property being sold includes designer clothing and jewelry in New Jersey, vacant commercial real estate in Cleveland, Ohio and, yes, even the frozen horse semen of three time National Champion Park Stallion MHR Nobility in Fort Collins, Colorado. In 2007, the [...]
