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Full-Text Articles in Taxation-Federal
Obtaining Relief From Federal Tax Levies, T. Fogg
Obtaining Relief From Federal Tax Levies, T. Fogg
T. Keith Fogg
A levy is an administrative means of collecting taxes by seizure or taking of the taxpayer's property to satisfy delinquent tax liabilities. A levy is analogous to, but something more than, an attachment, garnishment, or other similar creditor's remedy. This chapter explains the levy process, the power of a levy and ways for moving past the levy.
Utilizing Bankruptcy To Reduce Outstanding Tax Debts, T. Fogg, Kenneth Weil
Utilizing Bankruptcy To Reduce Outstanding Tax Debts, T. Fogg, Kenneth Weil
T. Keith Fogg
In general, Congress set out to strike a balance in the bankruptcy code between the need for government entities to collect taxes, the need to promote a fresh start for debtors and the desire to create a relatively balanced playing field for competing creditors. This chapter explains how tax creditors will do well when they quickly collect the debts due to them. They will do much less well if the debts have gotten old. Exceptions to this general rule exist for tax debts secured by a tax lien or debts arising from the debtor's collection of funds on behalf of …