The day the IRS caught up with Redd Foxx

The day the IRS caught up with Redd Foxx·

Those of us who are old enough to remember will never forget this scene·

 

November 28, 1989, the TV news broadcasts footage of Redd Foxx, the 67-year old comedian/actor, most famous for his portrayal of the character "Fred Sanford" in the TV sitcom "Sanford & Son" standing in front of his Las Vegas mansion in his underwear, shaking his head in disbelief while the IRS seize all of his possessions including:

 

"        His model T

"        His Uzi

"        His Redd Foxx records

"        His Ukulele

"        The watch Elvis gave him

"        His personal photographs

"        His Asian room furniture

"        Even the jewelry around his neck

"        ·and practically everything else.

 

Foxx owed the IRS $755,166 in back taxes.

 

Acquaintances have said that after this embarrassing event, Foxx became embittered - blaming his problems on racism and the government· everyone but himself.

 

Less than 2 years later, he died penniless (comedian Eddie Murphy footed the bill for his extravagant funeral).

 

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Don't Let the IRS Make You a "Shell of the Person You Once Were"

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It's hard to imagine what it would be like to watch the IRS come in and physically take everything that you own and have it broadcast on the national news, no less.

 

If your property was seized by the IRS, it probably wouldn't be broadcast on TV but it would be no less heartbreaking for you and your family.

 

And would be even worse if you knew that there was a time when you could have negotiated a settlement with the IRS but for some reason you decided to 'take your chances'.

 

Just think what it would be like to stand there like Redd Foxx and watch your belongings being carted away by the government - thinking back to the time when you read this blog and didn't do anything.

 

Don't take your chances. It's not worth it.

 

Call me at 405-607-1192 right now for your free consultation. It doesn't matter how "deep of a hole" that you feel that you've dug for yourself. I can help you. I'm not here to judge you personally.

 

I'm here to help you help you get on with your life and get the IRS out of it.

 

It's up to you to decide if you choose to retain me as your legal counsel after our initial free consultation. Either way, just taking the initiative to make that first call will be take a weight off your shoulders. Call now.

 

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What Property the IRS Cannot Take in a Seizure

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The IRS can use levies or seizures of your personal property to collect a tax debt.

 

But do you know what they cannot take from you?

 

According to the IRS Publication 594, entitled "The IRS Collection Process", the following are the things that the IRS cannot take from you in a levy or seizure:

 

"By law, some property cannot be levied or seized. We may not seize any of your property unless we have determined that we expect there to be net proceeds to apply to the liability. In addition, we may not seize or levy your property on the day you attend a collection interview because of a summons.

 

Other items we may not levy or seize include:

 

"School books and certain clothing

"Fuel, provisions, furniture, and personal effects for a household totaling $7,200*

"Books and tools you use in your trade, business, or profession, totaling $3,600*

"Unemployment benefits

"Undelivered mail

"Certain annuity and pension benefits

"Certain service-connected disability payments

"Workmen's compensation

"Salary, wages, or income included in a judgment for court-ordered child support payments,

"Certain public assistance payments, or

"A minimum weekly exemption for wages, salary, and other income.

 

*These amounts are indexed annually for inflation (these amounts are for calendar year 2005)."

 

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In Other Words· They Don't Leave Much!

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As you can see, the listing above is not exactly "generous".

 

 

Think about all of the things that you own where the IRS would "expect there to be net proceeds to apply to the liability".

 

 

Ask yourself if the IRS sold your house, would they make money from the sale?

 

 

How about your Car? Motorcycle? Boat?

 

 

It's all fair game to the IRS if they could sell it and make money from it and it's not on the list above. 

 

 

That's the power of the IRS to seize your property if you don't pay your taxes.

 

 

Don't let it get to this point. Call me at 405-607-1192 before disaster strikes. If you don't, you'll never know when you may look back upon this decision with enormous regret.

 

 

I hope it never comes to that.

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