Expo Holdings Inc. (EXPH)

[Acc441]

SBB....IMO they act based on what they feel the situation calls for....The IRS filing Federal Tax liens against delinquent taxpayers and the IRS sending a delinquent taxpayer a FINAL NOTICE OF INTENT TO LEVY are 2 different actions.


The lien secures the property and rights to property while the Levy is the actual act of taking the property.

According IRS publication 594..... the IRS will LEVY only when 3 conditions have occured:

1)"We assessed the tax and sent you a notice and demand for
payment."

2)"You neglected or refused to pay the tax, and

3)"We sent you a FINAL NOTICE OF INTENT TO LEVY and Notice of your right to a hearing(levy notice) at least 30 days before the levy."


The clock could very well be ticking or could have run out since the FIRST 2 CONDITIONS HAVE ALREADY BEEN MET.

We know the first 2 conditions have been met because the same 2 conditions have to be met PRIOR to the FILING of the TAX LIEN.

On a side note.....if the IRS possesses information or COMES INTO POSSESSION of INFORMATION which leads the IRS to conclude that collecting the delinquent taxes is in jeopardy....well...the IRS can then accelerate the process. The fact is...over the last few years the IRS has added field agents .. yet the agency remains understaffed...often times a concerned citizen or 2 will help the IRS in regards to specific information relating to a specific case.