IRS to auction property from woodworking shop
The IRS next week will auction off the contents of an Olathe woodworking business seized by the agency for nonpayment of federal taxes.
IRS spokeswoman Karen Connelly declined to identify the business, but an Internet search found the business is Architectural Interiors, 54093 Ida Road. The listed phone number for the business has been disconnected.
The IRS said the property will be offered in the aggregate only — rather than sold in individual pieces — and the minimum bid for all of the items is $21,308.82.
Connelly wouldn’t say how much in taxes the business owed or the kind of taxes that were due but indicated the minimum bid is calculated at 80 percent or more of the forced sale value of the property.
She said the proceeds from the auction will be applied to Architectural Interiors’ outstanding tax bill. If the sale amount doesn’t cover the amount owed, the business will continue to incur penalties on the remaining tax bill.
Architectural Interiors can pay off the taxes owed before the auction or challenge the minimum bid price, Connelly said.
If the minimum bid isn’t met, the IRS can call off the auction, or the government can purchase the property.
IRS-organized auctions are rare; business seizures and sales of inventory constitute less than 1 percent of the agency’s tax-collection activities, Connelly said.