Unlike the levy which involves intangible assets such as your bank account, a seizure is the taking of physical assets, such as your home or car. Seizures usually happen in aggravated cases when someone ignores many requests from the IRS to pay their outstanding taxes over a long period of time. This is not be taken lightly. The IRS will ultimately pursue seizure of your physical assets and once seized, they can be sold at auction. They often get less than half the assets' value, so they often seize everything you own including your home, cars, boats, jewelry, motorcycles, insurance polices, and even your retirement funds. Protect your assets: act today by enlisting a CPA to serve as your IRS advocate.
Francis & Company, PLLC
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