IRS Tax DebtEvaluating Recovery
Recovering irs tax debt swirls around ownership, security interests and irs tax
liens.
Ownership and liens attract property tax help. Individuals and business seek help to determine realizable equity in assets, including income.
First step in determining realizable equity is appraisal of assets, including future income. The value of assets, less secured encumbrances, equals net worth in accounting terms or realizable equity in real terms.
Appraisals have wide range to accomodate a wide range of purposes ... fair market value, quick sale value, forced sale value, loan value, nuisance value and present value. Present value relates to assets that mature in the future but is arbitrarily discounted for value as of today; i.e. disposable income (excess over necessary living expenses). Nuisance value is attributable to known variables having unknown and undeterminable costs. Licensed appraisers are experts at establishing value for real estate and specialty assets. For vehicles, Kelly Blue Book is considered the expert appraiser. For disposable income, irs is the expert appraiser. Determining realizable equity, assets value less the value of secured encumbrances, validates the process for evaluating recovery. In most recovery cases, quick sale value is the most accomodating appraisal purpose; generally, expert appraisals are not required. Pose a
question
or concern about how recovery of unpaid tax is evaluated. |
