Kevin F. Foley and Shula K. Foley - Page 3

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               On October 28, 2005, respondent filed a Federal tax lien in            
          Washington County, Minnesota, relating to petitioners’ 1999                 
          outstanding Federal income taxes.                                           
               On or about November 2, 2005, petitioners timely requested             
          an Appeals Office hearing, seeking to avoid or at least to                  
          postpone respondent’s proposed levy.                                        
               In their Appeals Office hearing, petitioners requested that            
          respondent designate their outstanding 1999 Federal income taxes            
          as currently not collectible.  Petitioners also represented that            
          because of the balloon payment due on their contract for deed in            
          June of 2007 they intended to sell or refinance their residence             
          and that funds therefrom would be used by petitioners to pay                
          their outstanding 1999 Federal income taxes.  Petitioners also              
          represented that they had several business deals that at some               
          point might provide funds to pay their 1999 Federal income taxes.           
               In the Appeals Office hearing petitioners did not challenge            
          their underlying 1999 Federal income tax liability.  Per                    
          respondent’s request, petitioners filed Form 433-A, indicating              
          that petitioners’ monthly living expenses exceeded their monthly            
          earned income and showing their residence as their only                     
          significant asset.                                                          
          On or about April 26, 2006, respondent’s Appeals officer                    
          advised petitioners’ representative that the proposed levy action           

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