No kidding

Oh my goodness:

An IRS Appeals officer abused his discretion when he determined to proceed with the collection by levy of 48 cents, plus penalties and interest. The taxpayer and his wife had filed a joint return for the tax year at issue and, at the time of filing, paid approximately one-half of the total tax liability.

That's right, they filed a levy on the guys assets to collect $.48.  They tried to grab $440 in penalty and interest as well.  Fortunately, the Tax Court slapped these guys down.  Unfortunately, the taxpayers almost certainly spent a couple of grand fighting this. (Maybe more.)  I guess they were just fighting it on principle.  (An awful lot of tax case law is the result of angry people spending way more than the proposed liability just on the principle of not letting the IRS win.)

Comments

[Kristin]

Yeah, I'm going with both sides being stupid for fighting over this.