Government Foreclosures - Don't Mess With The IRS

[gvydge...@yahoo.com]

An IRS audit will cover all sorts of interesting things; but the
actual, as opposed to the declared, amount of a filer's income is the
one with which the IRS is most concerned. When an audit shows that
someone earned far more income than he or she has declared, there will
be both back taxes and interest fees to pay.
If you find yourself on the paying end of these taxes, and you don't
have the money to cover them, the government may come after your other
assets, including your home. Your home could be put into government
foreclosure.
Whenever someone owes more money to the Federal government than they
can pay, the government attaches all their assets, monetary and
physical. Cars, boats, homes, jewelry, or artwork--any luxury items
which will generate good prices--are seized and sold.
Those who only owe the government a few hundreds or thousands of
dollars, however, are not going to have their homes seized as
government foreclosures. They are more likely to have a payment plan
offered to them. But for those whose government debt measures in the
hundreds of thousands, or millions, of dollars, government
foreclosures are almost guaranteed....

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