Can the IRS take my stuff?

In the vast majority of cases, you will not lose any of your stuff to the IRS.  Most clothing and personal household belongings are beyond the scope of the IRS collection power.  Here’s why:
Section 6334(a)(1) of the Internal Revenue Code allows you to keep all of your clothing.  Bear in mind that the tax code [...]

Gas at $4.00 gallon; IRS National Standards lag behind

The Speedway gas station I can see from my suburban office window lists gas at $4.00 gallon. It now costs about $75 to fill-up a F-150 truck these days. At one fill-up per week, that is $325 per month for gas for one family car.
The IRS, in reviewing an ability to repay a [...]

IRS Financial Statements Revised - Traps Included!

For the first time in 4 years, the IRS revised the financial statements that are required to be used in collection cases.   There are several changes that are noteworthy, and to be careful with when answering.  On Form 433B, used to investigate businesses with IRS problems, the IRS asks who is responsible for depositing payroll taxes.  
The [...]