Government Tax Deed Sales
No one wants to be in the position of being found guilty of income tax evasion. Once that has happened, the outcome is never good, and is usually much more costly than the original tax would have been...
No one wants to be in the position of being found guilty of income tax evasion. Once that has happened, the outcome is never good, and is usually much more costly than the original tax would have been. The best plan is to pay the taxes as they become due. You will sleep better and there will be no unexpected phone calls or notices informing you of an audit. Government tax deed sales are the result of a tax lien on your property and the government's attempt to remedy the tax debt. It is never good to fall into that position.
When a tax lien has been placed on your property, the government expects that the tax bill will be paid immediately so that the tax lien can be lifted. Standing off and not dealing with the problem is not the way to regain your footing with regard to your property. The circumstances will become far worse the longer you wait to deal with it. Your tax lawyer whom you trust and in whom you have great confidence will be able to go ahead of you. He knows what to anticipate and will usually be able to tell you what the next move of the government will be. Government tax deed sales are only meant to bring settlement to the tax by the sale of property held by the debtor.
One unfortunate thing about government tax deed sales is that the property most often will be sold for less than it is worth, and will not benefit the owner at all. Certainly, the tax debt will be covered, but only if the sale of the property brings in enough money to wipe the debt clean.If it does not, then there will be other attempts by the government to recover the debt. In any case, there will be no extra funds going back to the property owner when the sale is most often less than the actual value. This situation should be avoided at all costs.
When the government comes knocking to recover a tax debt, they will not go away. The government tax deed sales will be the end result of the long investigation and they will not stop until the full debt is settled. Your lawyer will be able to shield you from unnecessary direct contact with the Internal Revenue Service, but you must take the proper steps to bring about the solution.
Article Tags: Deed Sales
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
Ruth Campbell owns and operates http://www.tax-lien-guide.com Tax Lien Guide