{"id":22315,"date":"2014-08-19T00:00:00","date_gmt":"2014-08-19T00:00:00","guid":{"rendered":"https:\/\/getirshelp.com\/blog\/seizure-assets-happen\/"},"modified":"2026-07-27T14:48:03","modified_gmt":"2026-07-27T14:48:03","slug":"seizure-assets-happen","status":"publish","type":"post","link":"https:\/\/getirshelp.com\/blog\/seizure-assets-happen\/","title":{"rendered":"Seizure of Assets Happen"},"content":{"rendered":"<p>After 32 years of IRS work \u2014 and more than $100 million in resolved tax debt \u2014 I&#039;ve seen just about every version of the problem you&#039;re dealing with. I&#039;m Darrin Mish, a tax attorney in Tampa. Here&#039;s what you should know.<\/p>\n<p>If you have major IRS issues, the likelihood of asset seizure is huge. When the IRS demands payment, they can take your assets. This means that if you owe the bureau a lot of unpaid taxes, you might not have a lot left after they\u2019re done taking your properties.<\/p>\n<p><a href=\"https:\/\/getirshelp.com\/blog\/category\/irs-problem\/\">Click here to read or watch more IRS Problem resources.<\/a><\/p>\n<p>Deciding which properties to seize are done by the IRS with regards to these 3 factors:<\/p>\n<ol>\n<li>The asset required to pay the tax vs. the tax owed<\/li>\n<li>The convenience of taking and disposing of the assets<\/li>\n<li>The assets\u2019 importance to the taxpayer in question<\/li>\n<\/ol>\n<p>Hoping that you\u2019ll choose to sell your assets to pay your unpaid taxes, the IRS will threaten you with asset seizure. These are the assets the IRS usually wants:<\/p>\n<ul>\n<li>Bank accounts<\/li>\n<li>Vehicles, like cars, boats, jets and recreational vehicles<\/li>\n<li>Life insurance with cash value<\/li>\n<li>Accounts receivable<\/li>\n<li>Investments in stocks and bonds<\/li>\n<li>Wages<\/li>\n<li>Cash for collection<\/li>\n<li>Real estate, including investment and holiday houses<\/li>\n<li>Pensions, IRAs and Keoghs<\/li>\n<li>Your home<\/li>\n<\/ul>\n<p>Though you might think that they\u2019re seizing everything, these assets can\u2019t be seized by the IRS:<\/p>\n<ul>\n<li>Clothing, except fur coats and luxury wear<\/li>\n<li>Fuel, furniture, personal effects, and provisions up to $6250<\/li>\n<li>Books and tools of trade amounting to $3125<\/li>\n<li>Students\u2019 books<\/li>\n<li>Unemployment pension<\/li>\n<li>Worker\u2019s Compensation<\/li>\n<li>Money from charity<\/li>\n<li>Benefits received from job training<\/li>\n<li>Mail that was undelivered<\/li>\n<li>Child support mandated by the court<\/li>\n<li>Deposits made to the Special Treasury fund by members of the armed forces and Public Health Service employees called to permanent work outside the U.S.<\/li>\n<li>Disability payments<\/li>\n<li>Minimum exemption amount of wages, salary, and other income<\/li>\n<li>SSI or welfare public assistance payments<\/li>\n<\/ul>\n<p>It\u2019s best to <a href=\"https:\/\/getirshelp.com\/blog\/irs-seizures-consequences\/\" data-wpil-monitor-id=\"1186\">avoid asset seizure<\/a>, but what if you have already gotten a notice from the IRS? The release process is made easy with guidance from our firm. Your taxes will have to be paid in full, <a href=\"https:\/\/getirshelp.com\/blog\/tag\/irs-installment-agreements\/\">or you can offer an installment deal with the IRS, prove a hardship, or prove that the amount of the asset taken exceeded that of what you needed to pay<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After 32 years of IRS work \u2014 and more than $100 million in resolved tax debt \u2014 I&#039;ve seen just about every version of the problem you&#039;re dealing with. I&#039;m Darrin Mish, a tax attorney in Tampa. Here&#039;s what you should know. If you have major IRS issues, the likelihood of asset seizure is huge. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[592],"tags":[595],"class_list":["post-22315","post","type-post","status-publish","format-standard","hentry","category-irs-problem","tag-irs-installment-agreements"],"_links":{"self":[{"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/posts\/22315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/comments?post=22315"}],"version-history":[{"count":2,"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/posts\/22315\/revisions"}],"predecessor-version":[{"id":26986,"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/posts\/22315\/revisions\/26986"}],"wp:attachment":[{"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/media?parent=22315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/categories?post=22315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/getirshelp.com\/blog\/wp-json\/wp\/v2\/tags?post=22315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}