An immigrant couple lost their business after the IRS seized and sold their property in a day

[Rion]

An immigrant couple lost their business after the IRS seized and sold their property in a day

Frost said he has represented thousands of taxpayers against the IRS, and he can count on one hand how many times one of his clients had their physical property seized.

In the past the IRS has been caught violating the law when seizing private citizens' property.

According to a report published in 2013 by the Treasury Inspector General, the IRS did not comply with the law in 15 of 50 seizures randomly sampled, or over 30 percent, between 2011 and 2012.

But what really makes this case stand out, according to experts, is the timing of the seizure and sale. According to the suit, the IRS sold the property in just four hours.

 

[Hammster]

That is just crazy.

 

[JCFantasy23]

Very sad

 

[Fireinfolding]

What the?

 

[paul1149]

According to the suit, the IRS sold the property in just four hours.

The IRS denies that the sale happened that quickly, but does admit that the inventory was sold on the same day in March 2015 that it was seized, according to court documents​

In other words, the sale and transfer of goods was set up well before the raid took place.

My guess: Someone in the IRS had a family member in clothing, and saw an opportunity to raid a business and take the spoils. After the Lois Lerner affair, we should have very little trust in these protected bureaucrats, despite the previous occupant of the Oval Office assuring us "there was not a smidgen of corruption" in the IRS.

 

[Hank77]

wrong article

 

[Rion]

wrong article

No...? I linked to the right one.

 

[W Johnson]

2015 was Obama’s IRS.

 

[Hank77]

No...? I linked to the right one.

LOL not you me.
I had to delete my post because it was about a different article. I have since started a thread about HUD funds being used inappropriately.

 

[Nithavela]

2015 was Obama’s IRS.

True, but the responsible people are propably still the same today.

 

[W Johnson]

True, but the responsible people are propably still the same today.

I heard they left the IRS and started a bridal shop…

 

[Nithavela]

I heard they left the IRS and started a bridal shop…

 

[Phil 1:21]

2015 was Obama’s IRS.

Bush's fault.

 

[DaisyDay]

I wonder why this happened in this case - dresses are clearly not "perishable" goods. I hope the couple is able to recover and then some.

[ur[=https://www.dallasnews.com/news/cri...irs-taking-selling-entire-inventory]This[/url] from the DallasNews seems to be the original report.

However, it does seem as though the ten year statute of limitations was running out on this tax debt from 2005.

https://www.forbes.com/sites/peterj...-irs-wedding-shop-seizure-story/#3611a931799e

According to the IRS Data Book , at the beginning of 2016, there was $137 billion uncollected tax, penalties and interest spread over 13 million delinquent accounts. They collected over $37 billion. At the end of the year there was $138 billion spread over 14 million delinquent accounts. There were over 470,000 liens filed and nearly 870,000 levies. There were fewer than 500 seizures. You might wonder why the IRS even bothers with seizures. I'm thinking that forgoing them entirely would probably be unwise, since people would then be able to make their net worth entirely unreachable by converting it to tangible form.

Something that happens a lot more than seizures that I asked both the Gregorys and Mark Stanhope about is people beating the IRS by waiting out the ten year statute of limitations on collections. That does happen. I have not been able to get statistics on it, but the anecdotal evidence is that it is much more common than seizures. There is a real danger that as the capacity of the IRS to collect continues to erode, people who organize their lives to live on their after tax income will start feeling more and more like suckers

 

[FreeinChrist]

I wonder why this happened in this case - dresses are clearly not "perishable" goods. I hope the couple is able to recover and then some.

[ur[=https://www.dallasnews.com/news/cri...back-irs-taking-selling-entire-inventory]This[/url] from the DallasNews seems to be the original report.

However, it does seem as though the ten year statute of limitations was running out on this tax debt from 2005.

https://www.forbes.com/sites/peterj...-irs-wedding-shop-seizure-story/#3611a931799e

Note the Forbes article includes:

According to the complaint filed on March 1, 2017 in US District Court, the Miis "allegedly owed the IRS $31,422.46 related to the tax years of 2005, 2008 and 2010". The complaint does not indicate what kind of tax. A subsequent filing makes it look like corporate income tax. Given that the events complained of occurred on March 4, 2015, it is possible that the 2005 liability which could have been assessed as early as 2006 was getting very close to the ten year statute of limitation on collections.
​

reaching the 10 year statute of limitation.....so this was not a sudden thing at all. $31,422.46 is not a small amount to owe the IRS even in three tax years combined.

 

[brinny]

An immigrant couple lost their business after the IRS seized and sold their property in a day

Frost said he has represented thousands of taxpayers against the IRS, and he can count on one hand how many times one of his clients had their physical property seized.

In the past the IRS has been caught violating the law when seizing private citizens' property.

According to a report published in 2013 by the Treasury Inspector General, the IRS did not comply with the law in 15 of 50 seizures randomly sampled, or over 30 percent, between 2011 and 2012.

But what really makes this case stand out, according to experts, is the timing of the seizure and sale. According to the suit, the IRS sold the property in just four hours.

They strategized and PLANNED this??!!!

 

[Goonie]

They strategized and PLANNED this??!!!

As a FreeinChrist noted this case was reaching the 10 year statute of limitation, which explains the rush. The owners had 10 years to resolve the tax dispute.

 

[Tanj]

According to the suit, the IRS sold the property in just four hours.

The IRS denies that the sale happened that quickly, but does admit that the inventory was sold on the same day in March 2015 that it was seized, according to court documents​

In other words, the sale and transfer of goods was set up well before the raid took place.

Well, I was going to make a joke about how this shows the government can be an efficient capitalist enterprise as well.

The inventory had included over 1,600 gowns that had an estimated value of $615,000, according to the suit.

But the IRS sold everything for about $17,000.

...but perhaps not.

At any rate, the IRS was was of the deciding factors in why I never moved to the States for work.

 

[brinny]

As a FreeinChrist noted this case was reaching the 10 year statute of limitation, which explains the rush. The owners had 10 years to resolve the tax dispute.

Thank you. I didn't see FreeinChrist's post till after i posted.

(I still don't like the IRS)

 

[Goonie]

Thank you. I didn't see FreeinChrist's post till after i posted.

(I still don't like the IRS)

Nobody likes the taxman. And the question is why it took so long to resolve? a $17000 return on $600,000 worth of goods? Someone's clearly exaggerating the value but it is not a story that screams competence on the part of the IRS.