IRS Can Collect from Property Purchased in Corporation

Houston Tax Attorney

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Can a taxpayer put property beyond the IRS’s reach by purchasing the property in the name of a corporation or a third party?  The answer is typically “no.”  The recent Arlin Geophysical Co. v. United States, No. 2:08-cv-00414-DN-EJF (C.D. Utah 2018) provides an example. Facts & Procedural History The court case involves an individual who […]

IRS Cannot Collect Taxes Discharged in Bankruptcy

Houston Tax Attorney

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In Internal Revenue Service v. Murphy, No. 17-1601 (1st Cir. 2018), the taxpayer discharged his unpaid taxes in bankruptcy.  The IRS continued to try to collect the discharged tax debt.  The case is a must read for taxpayers who find themselves in this same situation. The Facts & Procedural History The taxpayer in Murphy filed Chapter […]

Can I Transfer Assets to Another Person If I Owe the IRS?

Houston Tax Attorney

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Taxpayers often ask us whether they can transfer property to another person if they have an unpaid tax debt or they expect to have a tax debt they cannot pay. There are a number of rules that have to be considered in answering this question. The answer varies based on whether the IRS has a […]

Rules to Know When the IRS Seizes Your Property

Houston Tax Attorney

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The IRS has the authority to take your funds or property if you do not pay your taxes. This is commonly referred to as a “seizure.” Our Tax Code and the IRS’s Internal Revenue Manual provide specific rules and procedures the IRS has to follow to seize your property. Here are the four primary rules […]

When the IRS’s Collection Efforts Create an Economic Hardship

Houston Tax Attorney

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The IRS has broad collection powers that it can bring to bear to collect unpaid taxes. Even though it has these powers, it often chooses not to use them. This is especially true in cases where the collection actions would result in an economic hardship for the taxpayer. What is an Economic Hardship? The term […]

Get Rid of Unpaid Taxes Without Losing All of Your Assets

Houston Tax Attorney

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It is nice to have a retirement account with a significant balance. It is also nice to have a significant amount of equity in a home. It can be difficult to get tax relief from the IRS for unpaid taxes if you have one or more of these assets. Reasonable Collection Potential The IRS factors […]

What Property is Subject to the IRS’s Federal Tax Lien | Part Two

Houston Tax Attorney

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This is the second part of a three-part series of articles that explains what you need to know about the federal tax lien if you have unpaid tax debts. If you missed the first installment of this series, you can read it here. The IRS’s federal tax lien can have a devastating impact on your […]