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To: Former Proud Canadian

The IRS can only take what’s due from future refunds.


14 posted on 02/28/2015 4:57:31 AM PST by b4its2late (A Liberal is a person who will give away everything he doesn't own.)
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To: b4its2late
A really good point. The IRS cannot recover these owed amounts through garnishment or liens.

The downside it that they will charge interest and the IRS charges interest like a loan shark.

19 posted on 02/28/2015 5:09:11 AM PST by USNBandit (sarcasm engaged at all times)
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To: b4its2late; USNBandit
The IRS can only take what’s due from future refunds.

A really bad point.

You're a peasant - get used to it:

The elderly and others who receive Social Security benefits are not immune to owing taxes or, when subject to penalties for nonpayment, from suffering tax liens. Although government benefits are intended to help those in need or to provide senior citizen support, the government still attempts to recover any owed taxes. A tax lien can be a rude surprise to those on Social Security and a fixed income.

http://www.ehow.com/about_6515155_tax-liens-social-security.html

They had to pass it to see how far up your @ss it would go... LOL! :)

The IRS is limited in how much it's allowed to take. The agency can deduct up to 15 percent of benefits due from the SSA per month. Exceptions of SSA benefits that can't be taken include children's benefits or benefits already being impacted by the SSA recovering its own overpayments first; the 15 percent cap is per person. So, two people who are married and both receiving Social Security benefits could lose a total of 30 percent of their combined benefits to the lien.

The IRS will not notify the debtor each month when it takes SSA benefits. Instead, an automatic deduction of benefits paid will occur until the lien and related tax levy are fully paid to the satisfaction of the IRS. This authority is specified in the Internal Revenue Code Section?6331(h)...

48 posted on 02/28/2015 7:31:45 AM PST by kiryandil (making the jests that some FReepers aren't allowed to...)
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