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Can IRS levy IRA of deceased individual for back taxes owed?

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What do you do when you have a wage levy from the IRS but your tax refund should cover the amount owed?

  Answer   It can take up to six weeks for the IRS to post the refund credit and then transfer the credit to the period with the liability. Once this is done the lev

If an individual dies owing back taxes to IRS and has no spouse or heirs can they claim the life insurance as payment even if there are beneficiaries listed in the policy?

  Answer   Presuming the beneficiary is not the decedent or his estate...NO.  Passes to the named beneficiary.    The rules of decent for the local of the pe

If an individual dies owing back taxes to the IRS are his heirs responsible for the repayment?

The heirs are not personally responsible for the debt, though the spouse may be. The estate has to pay off the debts including taxes. If the estate cannot do so, they distribu

If you owe back taxes to the IRS how far back can you count it?

It can go back for forever....if you didn't file a return, the Statute of Limitations never starts and hence, it never ends. That same SOL has many conditions that can make it

What is the statute of limitations on back taxes owed the IRS?

First, there are many SOLs, both for different taxes and then separate ones for audit, assesment and collection...as you see a progression that added together can be a long ti

Can the IRS levy 401k and IRA for back taxes owed?

401k and IRAs are "Assets", the IRS can levy assets and seize them if you do not resolve your tax matters. You can resolve your back taxes through different avenues, negotia

What is the phone number for the IRS when you owe money for back taxes?

If this is about the income tax refund offset program through the FMS. You can use the below enclosed information and phone number. The Department of Treasury's Financial Mana

Will the IRS levy my daughter's bank account for my back taxes if my name is on the account?

Joint accounts which are not held as TBE (a manner only available to married couples in certain states) are subject to levy by the IRS and other creditors. The non debtor acco

Can the IRS seize death benefits owed to the beneficiary who owes back taxes?

Sure. Death benefits do not enjoy any preference when the  beneficiary owes back taxes. They can also garnish your wages  and/or Social Security Benefits. You best bet is to