IRS to Public: “Your House, Car and Personal Property are all Fair Game”

Fortunately, there are still limits. The following items are exempt from IRS seizure.

1.     Unemployment benefits

2.     Certain annuity and pension benefits,

3.     Certain service-connected disability payments,

4.     Workers Compensation,

5.     Certain public assistance payments,

6.     Minimum weekly exempt income,

7.     Assistance under the Job Training Partnership Act,

8.     Income for court-ordered child support payments.

Additionally, the IRS is not supposed to seize necessary schoolbooks (whatever they are), clothing, undelivered mail, certain amounts worth of fuel, provisions, furniture, personal effects for a household, and certain amounts worth of books and tools for trade, business, or professions.

For more information, or to schedule a confidential consultation, contact the good folks at Selig & Associates.