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If you owe 1,000 USD is there ever a situation where you should forfeit an asset, have it liquidated, and then regain none of the proceeds over what you owe? It
by rwmurrayVT 7y ago
If you owe 1,000 USD is there ever a situation where you should forfeit an asset, have it liquidated, and then regain none of the proceeds over what you owe? It says in the article they found that they were received over 40 USD for every 1 USD owed in taxes. It's not a couple of mistakes. It's blatantly doing the bare minimum to ensure that you can pad a budget deficit via forfeiture.
Sure, if someone has an asset that they aren't paying taxes on you can put a lien against it or maybe even take it in forfeiture. You absolutely can't keep the entirety of the proceeds from a sale above what's owed and maybe the funds for running an auction.
In the end I think they have a fair legal case for recourse. There's no criminal violation and a civil violation isn't enough for complete asset forfeiture.