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Nonprofit
Organization: (abbreviated
"NPO", or "non-profit" or "not-for-profit") Is an
organization whose primary objective is to support some issue or matter of
private interest or public concern for non-commercial purposes. Nonprofits may
be involved in an innumerable range of areas relating to the arts, charities,
education, politics, religion, research, or some other endeavor.
Notice of Federal Tax
Lien: An instrument recorded in the Recorder of Deeds office in
the taxpayers county of residence that serves to notify the public of a tax debt due the
IRS. A Federal Tax Lien secures
all current and future right, title and interest in a taxpayer's assets up to the amount
due the government. The lien is valid for the duration of the 10 year statute for
collection, which begins on the day the tax was assessed. (Also see Statutory Lien)
For more information in a Notice of Federal Tax Lien
Notice
of Seizure: A seizure is the act of levying a tangible asset,
like real estate, motor vehicles, office equipment and inventory.
The decision to seize a
taxpayer's assets is one of the most sensitive decisions that an IRS Revenue
Officer will make. The case history must be well documented with all actions
that have been taken in order to show the justification for seizing a taxpayer's
assets. The decision for the IRS to seize must be based on the individual facts
and circumstances of each case, and the revenue officer must follow all legal
and procedural guidelines. If the facts of the case indicate seizure of the
taxpayer's assets would be the next appropriate step to take, the Revenue
Officer will begin the seizure process.
IRM 1.2.1, Policies of the Internal Revenue Service related to seizure action:
P-5-1 Enforcement is a necessary component of a voluntary assessment system
P-5-28 Successive seizures — Timing to avoid undue hardship
P-5-34 Collection to be enforced through seizure and sale of assets of a
taxpayer only after thorough consideration of all factors and alternative
collection methods
P-5-35 Establishment of a minimum price in distraint sales
P-5-38 IRS Seizure of assets located on private premises
Revenue Officers have the authority to seize assets and Property Appraisal and
Liquidation Specialists (PALS) have the authority to sell assets.
For more information on Notice of Seizure
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