10 Horrible Things That Could Happen If You Don’t Pay Your Taxes

Have your property seized

A lien is a claim to your property; a levy is the actual taking of it. IRS Publication 594 makes it clear that in some cases, the agency can appropriate your house or car, not to mention your income or bank account.

They might restrain themselves if it’s agreed that you’re suffering “economic hardship,” which means their seizure would hinder your ability to meet “basic, reasonable living expenses.” Plus, the publication reads, “If there’s money left over from the sale [of your assets] after paying off your tax debt, we’ll tell you how to get a refund.” Make of that what you will.

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