Most people aren’t aware that a tax refund could be potentially seized. Now seizures don’t often occur, but it can and will happen, especially if you do something wrong. Seizures only happen when there has been a terrible fraud committed but there are of course other reasons. If you don’t provide accurate information then your refund may be seized.
How Can A Refund Be Seized?
When you file your tax return and are about to receive a refund you may find the refund stopped. Now there aren’t many people who find their tax refunds seized but it does happen. There are a variety of reasons as to why a refund may be seized. However, if the refunds are to be seized you will be informed why.
Is There A Way To Prevent A Seizure?
You could consult with a tax attorney in order to prevent money from being seized but it is not a simple process. There must be a reason as to why the refunds are being seized and unless you have an extremely good reason as to why you are entitled to stop the seizure you may be unsuccessful. Of course, a lawyer or attorney will help talk you through the process. If you have found your tax return or refund is being questioned then you need the help of a professional lawyer so that they can help you with these issues.
How Will You Know If The Refund Will Be Seized?
If your tax refunds are to be seized then you will know about it very quickly. You will not receive any refund either in check-form or a bank transfer. However, sometimes you may not be notified immediately about the seizure and until you enquire about the refund you may not know about it. This is something which varies and if you are filing online and owe money then you may be told about it there. However, seizures can occur through a variety of reasons.
If You Provide Incorrect Info a Seizure Might Occur
There are not many people who have their refunds seized unless they have provided false, inaccurate or fraudulent information. Now you may not have given a lot of thought about it but if you file incorrectly and knowingly provide false information then your tax refund could be seized. It doesn’t matter if you’ve lied on a small scale or a large scale, if you say you’ve paid more money to taxes or earned more then a seizure may occur.
Don’t Fall Victim
The truth is that if you follow the letter of the law and ensure your returns are submitted on time with accurate information then you shouldn’t have too many issues. However, if you don’t file on time or knowingly provide false information then you could get into a lot of trouble. Seizures can occur at any time and if the Australian government believes or has proof you have committed a crime then your refund may be seized. Tax refunds can be taken at any time so be wary and always ensure you check the information you provide before you submit.
Check out this link for more informations: http://www.moneycrashers.com/reasons-irs-seize-tax-refund-money-debt/