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Internal Revenue Service Asset Seizure

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
BakerHostetler

DOJ Seizes Over $3 Billion in Historic Crypto Dark Web Fraud Case

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On November 7, 2022, the U.S. Department of Justice (DOJ) announced that it had seized more than $3.36 billion worth of bitcoin as part of a continuing investigation into a 10-year fraud involving the Silk Road dark web...more

Freeman Law

IRS Seizures: The Good, the Bad, and the Ugly

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Along with tax penalties and tax lien filings, the IRS’s ability to seize a taxpayer’s property is one of its most potent weapons to encourage tax compliance.  That is, in part, what makes a recent report from the Treasury...more

Mitchell, Williams, Selig, Gates & Woodyard,...

The Taxpayer First Act Changes IRS Powers in Ways Important to Your Civil and Criminal Tax Clients

On July 1, 2019, President Trump signed the Taxpayer First Act (“Act”), which includes a host of important expanded taxpayer protections ranging from adjustments to criminal tax seizures, to John Doe summonses, to the...more

Burr & Forman

Time to Challenge Wrongful IRS Levy Extended Under New Law

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The IRS has the power to seize or “levy” assets, banks accounts, wages and other assets and income of an individual or business to satisfy delinquent taxes. However, the IRS will sometimes levy the wrong assets or income;...more

Burr & Forman

The IRS Tax Levy on Social Security Benefits: Does it Last Forever?

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An IRS tax levy is a seizure of a person’s property or rights to property. The IRS then uses the seized property to pay taxes owed. A levy allows the IRS to confiscate a person’s property, which includes cars, boats, real...more

Dechert LLP

U.S. v. Coinbase: Virtual Currency Holders Not Outside the IRS’s Reach

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The U.S. District Court for the Northern District of California, on November 28, 2017, ordered the international digital currency broker, Coinbase, Inc., to produce to the Internal Revenue Service (IRS) the records of...more

Burr & Forman

The IRS Has a Lien Against Me: What Do You Do? Tax Lien Release and Discharge (Part 6)

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Where an individual or business owes IRS taxes, Congress has given the IRS a tax lien against all the assets of the taxpayer. The lien covers real estate, homes, furniture, cars, investments, and nearly everything an...more

Ballard Spahr LLP

Civil Forfeiture Under Fire – Part II

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In this post, we consider the Department of Justice’s (DOJ) Office of the Inspector General report (OIG Report), released on March 29, 2017, evaluating the DOJ’s oversight of its cash seizure and forfeiture operations. This...more

Ballard Spahr LLP

Civil Forfeiture Enforcement Under Fire – Part I

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Forfeiture actions by Internal Revenue Service Criminal Investigation (IRS CI) based on alleged structuring activity have come under fire, yet again. Specifically, the Treasury Inspector General for Tax Administration (TIGTA)...more

Ballard Spahr LLP

2016 Year in Review: Forfeiture

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The field of forfeiture saw significant action in 2016. The IRS offered to return forfeited funds used in structuring, but Congress still may clip its ability to forfeit such funds. Meanwhile, DOJ renewed a controversial...more

Burr & Forman

What Do All These IRS Collection Letters Mean?

Burr & Forman on

When someone owes the IRS taxes, as a result of not paying the tax shown as due on a tax return or where the IRS audits and imposes additional taxes owed, the IRS will “assess” this tax liability, and with penalties and...more

BakerHostetler

Asset Forfeiture Reform Bill Moving Through Congress

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The “Restraining Excessive Seizure of Property through the Exploitation of Civil Asset Forfeiture Tools Act” (tortuously abbreviated as the RESPECT Act) (H.R. 5523) continues to make its way through Congress, with a markup ...more

Williams Mullen

United States District Court Pushes Back Against Government in North Carolina Asset Forfeiture Case

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In May of last year we highlighted the decision by the United States Attorney for the Eastern District of North Carolina to dismiss a forfeiture case he’d brought against Lyndon McLellan, the owner of a small convenience...more

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