What assets may be seized by the IRS to pay back taxes?

The IRS may seize all property and rights to property (except for exempt property), whether the property is real or personal, tangible or intangible, belonging to any taxpayer who neglects or refuses to pay back taxes, or any property on which there is a tax lien for payment of any tax.

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However, the IRS may not seize property that is exempt under §6334. Some examples of exempt property include:
• Clothes and schoolbooks of the taxpayer and members of the taxpayer’s family, except items that are luxuries, such as furs
• Fuel, provisions, furniture, and personal effects, not to exceed a value of $6,250
• Books and tools of the trade, business or profession of the taxpayer, not to exceed a value of $3,125
• Unemployment benefits
• Undelivered mail
• Certain annuity and pension payments under the Railroad Retirement Act, the Railroad Unemployment Insurance Act, special pension payments to persons entered on the Army, Navy, Air Force, and Coast Guard Medal of Honor roll, and annuities based on retired or retainer pay under a Retired Serviceman Protection Plan
• Income required to satisfy a judgment for child support
• Wages, salary and other income to the extent they do not exceed a specified minimum amount
• Certain service-connected disability payments
• Certain public assistance payments
• Assistance under the Job Training Partnership Act
• If the amount of the levy does not exceed $5,000, any real property used as a residence of the taxpayer or any real property of the taxpayer used by another individual as a residence
• The principal residence of the taxpayer, unless a judge or magistrate of a U.S. district court approves the levy in writing
• Tangible personal property or real property (other than real property which is rented) used in the trade or business of an individual taxpayer, unless a district director or assistant district director of the IRS personally approves the levy in writing, or the IRS finds that the collection of tax is in jeopardy.

Note: Whether an interest is property is controlled by federal law. How a state treats a property right is not a deciding factor.

Get professional IRS representation. Our firm represents taxpayers before all administrative levels of the IRS.

Please call us at 877-788-2937 or email us to schedule an appointment.

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About Mike Habib, EA NTPI Fellow®:

Mike Habib, EA is an IRS licensed Enrolled Agent who owns and operates a specialized tax services boutique firm serving clients in various metro areas such as Los Angeles, Whittier, Pasadena, Glendale, Burbank, Orange County, Riverside, Palm Springs, San Bernardino, Palmdale, Bakersfield, New York, New Jersey, Chicago, Houston, Phoenix, Philadelphia, San Antonio, San Diego, Dallas, San Jose, Detroit, Jacksonville, Indianapolis, San Francisco, Columbus, Austin, Memphis, Fort Worth, Baltimore, Charlotte, El Paso, Boston, Seattle, Washington DC, Milwaukee, Denver, Louisville, Jefferson, Las Vegas, Reno, Hempstead, Tucson, Nashville, Davidson, Portland, Tucson, Albuquerque, Santa Fe, Anchorage, Atlanta, Long Beach, Fresno, Sacramento, Mesa, Kansas City, Cleveland, Virginia Beach, Omaha, Miami, Oakland, Tulsa, Honolulu, Minneapolis, Pittsburgh, Colorado Springs, Arlington, Wichita, Birmingham, Montgomery,