Proving that celebrities are not above the law, the IRS recently served rapper Lil’ Kim with a tax lien for allegedly dodging more than $1 million in taxes.
While it is celebrity tax stories that most often make the headlines, businesses and individuals frequently face the serious consequences of having a tax lien filed against them when the IRS determines that federal taxes have gone unpaid. A lien gives the IRS a legal claim to all of a taxpayer’s property as security for tax debt.
The IRS will send a Notice of Federal Tax Lien only after:
• It assesses a tax liability;
• It sends the taxpayer a Notice and Demand for Payment, which details the amount of taxes owed; and
• The taxpayer neglects or refuses to fully pay the debt within 10 days after the Notice and Demand for Payment is sent....
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.