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According to the IRS report, it seized the property from the owner for tax nonpayment. ... One item that made the front page of an IRS specialty auction brochure in 2010 was a Bugatti Veyron ...
Check out some of the wildest -- and most awesome -- assets the IRS has seized and sold.
Tax sale: seized assets; Court auction: items sold to satisfy a court judgment, like storage contents of not-paying tenants; Insolvent companies where the government is the liquidator (e.g. official receiver) Unowned property; Often goods sold at government auctions will be unreserved, meaning that they will be sold to the highest bidder at the ...
If the IRS suspects that property is involved with crime, or has been produced as a result of crime, then it has a pretext with which to seize it. [31] From 2010 to 2013, two motel owners were under constant threat of their property being seized after there were incidents of drug selling on the motel premises. [2]
On April 17, 2014, the State of Texas seized the YFZ Ranch, a one time Fundamentalist Church of Jesus Christ of Latter-Day Saints (FLDS) community that housed as many as 700 people when it was raided by Texas on March 29, 2008. [34] [35] Under Texas law, authorities can seize property that was used to commit or facilitate certain criminal conduct.
Your savings, wages, assets and property are all subject to seizure by the government — and if that happens, your belongings will be sold to the highest bidder. Be Prepared: All the New Numbers...
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