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    3. I have a tax lien against me for payroll tax of a failed business.I have another business and I have sold some of the assets of the failed business. If the proceeds from the other business and the asset sale is in a bank account of my Revocable Living Trust can the IRS garnish this account?
    I have a tax lien against me for payroll tax of a failed business.I have another business and I have sold some of the assets of the failed business. If the proceeds from the other business and the asset sale is in a bank account of my Revocable Living Trust can the IRS garnish this account?

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    0  Views: 238 Answers: 3 Posted: 13 years ago
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      3 Answers

      They for sure can. The IRS can seize everything you own to satisfy a debt.

      13 years ago. Rating: 2
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        clu

        I thought 401K's were safe?
        commented 13 years ago
        Colleen

        Moderator
        Could be clu but you know the IRS, if there's a will, there's a way.
        commented 13 years ago

        I believe nothing is exempt from the IRS Bastards . When in money trouble having your funds in a bank is about as stupid as you can get . Better start thinking like a outlaw or just kiss your money good bye . If they can find your assets they can do anything ,if they cant find your assets they can do NOTHING . Choose the one you like best !

        13 years ago. Rating: 2
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          ed shank

          A neighbor who was having trouble the IRS for years cleaned out his bank accounts. He showed up at my place and explained he had a bad dream about the IRS. In a box was 157K dollars. Two days later the three hundred he kept in an account was seized.
          commented 13 years ago
          bluesman1951

          Ed shank They make it impossible to play fair or honest . Glad your friend only lost 300.00 hope it turned well for your friend .Hope this guy believes our words and takes his money out of harms way . I trust banks for nothing .
          commented 13 years ago

          The IRS is an extension of "Satan's" empire. They can and will take EVERYTHING you own. They will even go as far as take any unopened canned food out of your cupboards.

          13 years ago. Rating: 1
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