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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 116166
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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I have a question for someone familiar with the IRS. I owe

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I have a question for someone familiar with the IRS. I owe them a substantial amount of money----apprx one million. I have assets with some equity--residential & commercial real estate. I did speak to the IRS agent in charge of my case in a very quick chance meeting & he told me they are not--unless in extraordinary cases taking peoples property but are going after liquid assets. They had been levying my SSDI check only.Having said that---after speaking to the agent out of the blue they stopped levying the check for no apparent reason. Any idea why this would be?
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

If you owe about $1M, the IRS considers this an extraordinary case, regardless of what the agent told you. If they were taking levies out of your SSDI and were not getting large amounts, as it costs them money to levy an account, then it usually means they are going to prepare to actually seize property from you to satisfy the debt and they are evaluating the equity in the property to determine if it is worth it for them to seize and if not they will resume the levy of the SSDI. The IRS does not simply forget about debts I am afraid.

I am also sure that owing this much you should have tried to negotiate a payoff for them to take less. If you have not done so and could do so by even liquidating some assets, this could be a good idea for you, because many times on this size debt they will take as little as 25%-33% as a settlement.

However, based on them stopping levy, in most all cases that means they are evaluating your case and conducting an internal audit and review to determine whether or not a property seizure would be in their best interests based on your equity in the property.

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Customer: replied 4 years ago.

You are the 1st attorney anywhere to say any such thing re- seizure. This is actually a case that dates back to amounts owed from 1993. There is apprx 6 yrs left on the statute. After speaking with lawyers as recently as 6 months ago there was never any mention of any such thing.

Also---it does not make sense that they would stop levying while doing an internal audit---why would they not take the money right up to the day they moved on any property?

Also---they denied a OIC and actually I spoke to the agent when he came to my property to drop off a document that gave details for a revision of the OIC rules.

Are you speaking from recent experience as a Tax attorney or just in general - not direct & recent experience?

Thank you for your response.

Actually, I have recently had a case where they stopped a levy and then restarted after three months and when we called to find out they told us they were evaluating whether or not to conduct a seizure. However, every case is different and they do act differently in each and every case and it depends on the lead agent on the case as well. However, one thing I have learned when dealing with them, none of us can get into the mind of the agent and know what they are thinking and whenever we give an opinion, it is based on other cases, but saying anything for certain without speaking directly to the agent and asking them why is just speculation and in this case we know less about your case than we do when clients come to our office with their paperwork, so all we can do is tell you what we have seen in other cases (I would hope you realize that as well)>
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Customer: replied 4 years ago.

I am not accepting this answer. I will resubmit it.

I will opt out. I wish you the best. Please do not rate the answer and it will allow another expert to jump in and answer you.