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The founders of our country understood that a fresh start under federal law is so essential to the fiscal health and economic vitality of our country; they included the right to file bankruptcy in Article 1, Section 8 of the United States Constitution.
We know the IRS is not the friendliest creditor you can have. In fact, it can legally do things to you that no other creditor is permitted to do. It has the power to levy your bank accounts, to garnish your paycheck and to seize and sell your property.And it doesn't even have to take you to court. It has these powers as a divisionof the United States Treasury Department.
The IRS had its genesis in the Revenue Act of 1862 when, to pay expenses of the Civil War, President Lincoln and Congress created the office of Commissioner of Internal Revenue and enacted an income tax. Ten years later the Civil War income tax was repealed. Congress attempted to revive the income tax in 1894, but its efforts were thwarted by a Supreme Court, which ruled it unconstitutional the following year. In 1913, after receiving assurances the marginal tax rate would never exceed 1% and that the surtax on large incomes would never exceed 6%, the states ratified the 16th Amendment to the Constitution. Such promises were soon broken by President Wilson, who used World War I to justify a top rate of 77%.
The modern IRS was born in 1952, when President Truman created a massive tax collection bureaucracy, gave it its current name, the Internal Revenue Service, and extended extraordinary powers to collect taxes. To this day, the IRS remains the only creditor that can throw you in jail for failure to pay a debt. Its extraordinary powers have been upheld as constitutional by a long line of subsequent rulings by the United States Supreme Court.
In short, the IRS is here to stay. It is not going to go away just by ignoring it. Nor is the IRS going assist you in reducing you liability to reflect the smallest legal amount you owe. To the contrary, you can count on the IRS to attempt to maximize and impose the highest possible amount of penalties, interest and tax and to use every means at its disposal to collect them with a vengeance. Now is not the time to ignore IRS collection notices because, in these harsh economic times, the IRS is very likely to step up its collection efforts over the next few years as the federal deficit balloons to unprecedented levels and the Treasury Department gets pressured by the President and Congress to maximize tax revenues.
Ironically, the United States Treasury Department is now headed up by Timothy Geitner. Mr. Geitner didn't pay his taxes in 2001, 2002, 2003 or 2004. The President nominated him to be his Treasury Secretary and the U.S. Senate confirmed him to the post. Now, Mr. Geitner is in charge of the very agency seeking to collect taxes from you. Do you think you will receive the same consideration that Mr. Geitner received from the President and his Senate? Don't count on it, unless you have Mr. Geitner's political connections and considerable clout.
If you don't have Mr. Geitner's pull, then you need to be protected from IRS abuse, aggression and intimidation. You need someone with knowledge, skill and experience in your corner, fighting for you because a taxpayer who does not understand the tax law or IRS collection procedures is very likely to pay more than legally required. Taxpayers frequently overpay their tax liability either as a because of improper IRS actions, or because they do not have the advice of a skilled and experienced tax lawyer.
Are you ready to put an end to threatening IRS notices, paycheck garnishments and bank account levies?
In appropriate circumstances, we can assist you with:
Contact us today to learn more about your options under the current bankruptcy laws. We're here to help. Have questions on filing for bankruptcy and need a Dallas bankruptcy attorney or a Fort Worth bankruptcy attorney? The Patrick D. West Law Firm, P.C. has been providing bankruptcy and debt solution legal counsel for over 20 years. The law office serves bankruptcy clients in these DFW area cities in both Dallas & Tarrant Counties: Dallas, Fort Worth, Arlington, Irving, Grapevine, Grand Prairie, Euless, Bedford, Hurst, Haltom City, Burleson, Colleyville, Mansfield, Keller, Saginaw, West Lake, Richland Hills, Coppell, Lewisville, and more