People who own bars, restaurants, and other businesses that employ tipped staff must make sure that they pay enough money into Social Security and Medicare. The amount that they pay is based off the amount of money in tips that their employees earn.
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The lore of the IRS audit has taken on a life of its own. The fallacies surrounding the auditing process have fostered countless fears in people who simply want to file their taxes and stay off the IRS' radar for another year.
People who owe the IRS money sometimes fail to appreciate the lengths that this organization will take to recover a debt. Along with sending letters to debtors and attaching liens to bank accounts, the IRS will also seize a wide variety of assets.
Despite having relative leeway when it comes to seizing your property, the IRS cannot touch all of your assets, however. When recouping what you owe to the government, this organization cannot legally take these valuables from you.
