In part one Wayne Vinson talked in generalities about the IRS and the ability to recoup monies owed. He went on to explain more specific situations:
Seizure of real estate
Procedurally, an IRS seizure of land is about the same as a seizure of real property—at least it was when I retired. These are the differences.
Land cannot be moved. Therefore, transportation and storage are not involved.
When land is sold, the taxpayer has a 6 month right of redemption. If the taxpayer pays the tax in full within 6 months after the sale, he gets his property back. When personal property is sold, there is no right of redemption—the sale is final.
Cash register seizure
A cash register seizure is where the revenue officers go into a business and seizes the cash that is in the cash register. The physical cash register is not seized. If it were, it would be a personal property seizure.
When I did a cash register seizure, I would explain to the taxpayer (or to an employee if the taxpayer was not there) what we were gonna do. I would invite the taxpayer to closely watch the proceedings. I would have the taxpayer open the register. Then I would take the cash out of the register and my witnessing revenue officer would slowly and visibly count it. I would also count it, if possible in front of the taxpayer.
That is about all that happened. There was a little paperwork involved, much less than the other types of seizure. The taxpayer got full credit for the money seized.
About having the taxpayer open the cash register: We usually did not know how to open it. Usually, the taxpayer was glad to open his register for us. It meant we were not there to close him down and lock his business up.
Wayne Vinson was an IRS agent for 33 years and the author of a real thriller, Tax Collectors and Other Sinners, the story of a psycho killing tax collectors. It is available at amazon.com as an E-book or soft cover.