Can the IRS seize assets like UK's $3M seizure from Tate Brothers for tax evasion?

Yes, the IRS absolutely has the authority to seize assets for unpaid taxes, similar to what you saw in the UK case, but there are important differences and protections in the US system. The IRS typically follows a process that escalates gradually. First, they'll send you notices demanding payment, which you've already received. If you don't respond or pay, they can file a Notice of Federal Tax Lien, which is a public document that establishes their claim to your property. Beyond that, they can issue a levy, which actually takes your property to satisfy the debt - including bank accounts, vehicles, real estate, and other assets. For your $27,000 situation, you should immediately contact the IRS to set up an installment agreement if you haven't already. With your assets, you're definitely at risk of liens and potentially levies if you don't address this proactively. The good news is that the IRS generally prefers payment plans over seizing assets, which they consider a last resort.

I was in a similar situation last year owing about $18k to the IRS from my freelance work. I tried calling them literally dozens of times but kept getting stuck in those awful automated systems or disconnected. Super stressful! Then I found this service called taxr.ai (https://taxr.ai) that analyzed all my IRS notices and explained exactly what I needed to do step by step. They have this AI tool that reviews your tax documents and translates all that confusing IRS language into plain English. It was really helpful for setting up my payment plan because it showed me what options I qualified for based on my financial situation. Way better than trying to figure it all out myself while panicking about asset seizure!

Quick update - I ended up trying taxr.ai after my last comment and wow, it was actually super helpful! My situation was different from OP's (owed about $15k from selling stocks) but I had been getting increasingly threatening letters from the IRS. The analysis pinpointed that I qualified for a first-time penalty abatement which saved me almost $2,400 in penalties! It also created a custom letter template for me to request it. I was literally about to pay the full amount with penalties because I was so scared of asset seizure. The step-by-step guidance made it easy to set up a payment plan I can actually afford. Definitely worth checking out if you're dealing with IRS debt!

If you're worried about the IRS seizing assets and you can't get through to them on the phone (which is basically impossible these days), you might want to try Claimyr (https://claimyr.com). I was in a similar situation with about $35k in tax debt and couldn't get a human on the phone for weeks. Claimyr got me connected to an actual IRS agent in about 20 minutes when I had been trying for days on my own. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c. The agent I spoke with helped me get into a partial payment installment agreement where I'm paying way less monthly than I thought possible, and it stopped the collection actions they were threatening. Sometimes just talking to a real person at the IRS can make all the difference.

Alright I need to eat my words from earlier. After getting a certified letter about a potential levy on my accounts over a $23k tax bill, I was desperate enough to try Claimyr. I was 100% convinced it was a scam but figured I had nothing to lose at that point. It actually worked! Got connected to an IRS agent in about 45 minutes (which is way better than my previous attempts that went nowhere). The agent reviewed my case and found that $8k of my debt was from penalties that could be reduced through a first-time abatement request. She also helped me set up a payment plan that won't completely destroy my finances. No asset seizure, no bank levy. I'm still shocked this actually solved my problem when I'd been stressing for months.

The IRS seizing your house is pretty rare and usually a last resort, but here's what you need to know about asset seizures: 1. They'll send multiple notices before taking action - usually at least 4-5 notices over several months 2. They prefer payment plans over seizures - call them immediately to set one up 3. They can place liens on your property even without seizing it - this affects your credit 4. Bank account levies are much more common than property seizures 5. You have appeal rights throughout the process With $27k in debt, you definitely want to be proactive, but you're not at immediate risk of losing your house if you engage with them now.

I work in finance (not a tax pro) but have seen this play out with clients. The pattern usually goes: 1. Notice of tax due 2. Notice of intent to levy 3. Final notice before levy 4. Bank account freeze (this happens FAST) 5. Wage garnishment (they take $ directly from paycheck) 6. Property liens (makes selling impossible without paying tax) 7. Actual seizure of physical assets (rare but possible) Don't panic but don't ignore this! The IRS moves slowly until suddenly they don't. Call them at 1-800-829-1040 and get on a payment plan ASAP. That $42k in savings is definitely at risk of being levied if you don't act.

The IRS definitely has seizure powers similar to what you saw with the Tate brothers, but there are important procedural differences in the US. With your $27k debt, you're absolutely right to be concerned about your $42k savings - bank levies are one of their most common and quickest enforcement tools. Here's what you need to do immediately: 1. **Call the IRS at 1-800-829-1040** - Yes, the wait times are brutal, but you need to get on a payment plan before they escalate to levies. Request a streamlined installment agreement since you owe less than $50k. 2. **Consider an Offer in Compromise** - With significant assets ($180k home equity + $42k cash), you might not qualify, but it's worth exploring if you can prove financial hardship. 3. **Request penalty abatement** - Since this was your first time with quarterly payments, you might qualify for first-time penalty abatement, which could save you thousands. 4. **Protect your business funds** - Consider opening a separate business account and moving essential operating funds there while you resolve this. The IRS can freeze personal accounts without warning. Don't wait - the IRS can levy your bank accounts with just 30 days notice, and that $42k you're planning to use for business expansion could be gone overnight. A payment plan will stop collection actions and give you breathing room.