IRS offers surprising bargains at its auctions
On the Money From the February 5, 2010 print edition This time of year, it’s hard not to think about the government. It’s tax season, and many of us are contemplating our tax situation and probably bemoaning what we have to pay. Who wouldn’t rather spend money on a new house or car than pay taxes? Those two activities may be more closely related than you think. The same agency that accepts our tax dollars also provides potential bargains on everything from real estate to airplanes. The online auction site eBay is well-known. But far fewer have heard about the Treasury Executive Office of Assets Forfeiture. This is the government office that manages auctions and administers the Treasury Forfeiture Fund (TFF). The TFF was established in 1992 as the successor to the Customs Forfeiture Fund. This fund accepts the proceeds from the sale of assets seized by the IRS, Immigration and Customs Enforcement, Department of Homeland Security, Customs and Border Protection, the Secret Service and the Coast Guard. Internal Revenue Code...
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