When one thinks about IRS collections, 2 typical methods come to mind. An IRS levy and an IRS tax lein. Many have confused these as being the same, but, actually, they aren’t. An IRS tax levy is a seizure of personal assets to pay a tax debt. On the other hand, a tax lien safeguards

It has been stated that the middle class should not pay more than the millionaires and billionaires. Is it actually true that they do? On the average, the wealthy in America pay a lot more in taxes and at a higher rate than do the middle c

An IRS garnishment is a forceful process on the part of the IRS to grab your attention. This is a legal seizure of your assets in order to satisfy a tax liability. The Irs can levy your bank accounts, your wages and practically any kind of

An IRS levy is a legal seizure of your personal property to fulfill your tax debt. The Internal Revenue Service will usually levy when they have assessed a tax amount and sent a “Notice and Demand for Payment”, the tax payer ig

“The Dirty Dozen represents the worst of the worst tax scams” IRS Commissioner Doug Shulman said. 1. Hiding Income Offshore The IRS aggressively pursues taxpayers involved in abusive transactions by avoiding or evading U.S. income by hidin

Now with the 2010 tax season over, some taxpayers would like to know where there taxes go. Here is a general breakdown of where your tax dollars go: 1. Social Security 20.6% 2. Defense 20% 3. Medicare 13.2% 4. Medicaid 7.2% 5. Help f