Replies to post #99914 on Expo Holdings Inc. (EXPH)

[mahatmapaul]

sbb: All good questions. And, you do know I was citing an article by a tax professional.

Did you also notice the "we'll agree to disagree"? Just like clockwork. How can there be disagreement about IRS procedures? These procedures are governed by the IRC and by regulations implementing provisions in the federal code. There can't be any "we'll agree to disagree", since the IRS is REQUIRED to follow strict procedures in these matters; JD may never dot any i's and cross any t's, but the IRS sure does, and they do this very well and every day and in every way. Those who ignore these dotted i's and crossed t's coming from the IRS do so at their immediate peril.

I did notice, though, that we're not hearing anymore that the filing of the lien is a sort of "notice" (??). The first letter is the notice, and the filing of the lien only happens after this letter and all subsequent ones are ignored and the taxpayers continues to not pay the amounts owed. And by the way, the other day you got "berated" (albeit weakly) by someone nit-picking your use of the word "seizure". The filing of the lien is, in fact, a legal/virtual seizure of these assets, since, as the article explains, all rights to the property are immediately taken away from the taxpayer. "Seizure", if understood virtually and not literally/physically, is a very apt description of what has happened to exph's assets.. (HEY: I just realized the excuse de year: THE IRS SEIZED OUR ROUTER, AND SO BLAH BLAH BLAH ...)

Something is brewing in Nawth Caroline, and it ain't Darjeeling breakfast tea ..... What are they up to?

[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.