[Download] "Prairie State Bank V. Internal Revenue Service" by Arizona Court of Appeals " eBook PDF Kindle ePub Free
eBook details
- Title: Prairie State Bank V. Internal Revenue Service
- Author : Arizona Court of Appeals
- Release Date : January 20, 1987
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 69 KB
Description
On June 22, 1982 the IRS recorded a notice of federal tax lien against the Renslows. On or about August 10, 1982, the Bank shipped 11 of the 12 firearms to the Renslows in Arizona. Later, on October 22, 1982, the IRS recorded an additional notice of federal tax lien. In September 1982 the firearms were stolen from the Renslows' residence. The Bank did not file a UCC financing statement in Arizona, and the record contains no evidence that it repossessed the firearms or possessed the insurance proceeds relating to them after it shipped them to Arizona.*fn1a At the time of the theft, Farmers insured the contents of the Renslows' residence against theft. Farmers ultimately agreed to settle the Renslows' loss claim for $14,699.15. In January and February 1983 the IRS served notice of levy on Farmers as to all property and property rights of the Renslows in a total sum exceeding $100,000, including interest and statutory penalties on the amounts previously assessed.