Wednesday, May 13, 2009

Stroger's Lien

The Chicago Tribune popped this story about the Toddler's IRS lien today. For those of you unfamiliar with the process, that lien most likely got filed after more than one attempt to get the Toddler's attention via phone or snail mail. It's possible he even got a personal visit from a Revenue Officer. Regardless, he either ignored the IRS or his responses didn't indicate a suitable sense of urgency. The agency files liens to protect the government's interest. The liens also serve to remind the taxpayer that Uncle is serious about getting his money. Most folks shudder at the idea of liens. Apparently they can muddy up your credit.

In any case, the Toddler will actually have to pay up and be responsible. We are told he has made an agreement to pay off the taxes. I wonder if it is an actual payment agreement, with payments over time? If that is the situation, the penalties and interest will continue to accrue. The final bill is likely over $12K.

But if Geithner can be Secretary of the Treasury, and have a tax bill, why can't the Toddler be Cook County Board Prez? Or have the politicos in Cook County suddenly gotten religion?

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