The IRS recently released its annual enforcement figures for its 2008 fiscal year.   The bottom line–$56.4 billion in enforcement revenue collected.

Collecting the billions required the IRS to issue over 2.6 million tax levies (IRS garnishments and bank levies) and 750,000 tax liens on taxpayers’ property.  Many of these levies and liens occurred after taxpayers failed to file their tax returns or pay tax. 

Tax levies and lien normally occur after numerous notices from the IRS.  Taxpayers can stop tax levies and tax liens from occurring by negotiating with the IRS.  In certain circumstances, penalties, interest and the underlying tax liability can be significantly reduced. 

For more information, go to www.wlhenry.com or contact us at (303) 952-5064 to learn how we can help you with your tax debt problems.   Visit our tax blog at http://wlhenry.com/tb/.

Tags: Failure to File, Failure to Pay, IRS enforcement, IRS levy, IRS lien

This entry was posted on Monday, January 19th, 2009 at 11:39 pm and is filed under Failure to File, Failure to Pay, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.