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Yes if you filed a join tax return Or you have a join bank account. IRS will garnish 401k because they see it as a income.
No. The IRS doesn't take your tax refund unless you owe the government money, government insured student loan arrears or child support arrears. It does not collect money on behalf of banks. However, if you deposit your check in your bank account it can be frozen by a creditor and the funds taken.
I made arrangement to have $100.00 deducted each month for 2005 back taxes. IRS did not take a payment out of my checking account who do you contact about this
If your account was garnished by a govt agency(i.e. the IRS). Then the IRS needs to put that money back into your account not the bank.
can be withdrawn without ten percent IRS penalty after age 59 1/2
Typically they can seize liquid assets if there are taxes owed.
They can send a tax levy to financial intuition. Any money you have in the account will be sent to the IRS
IRS can take whatever they want as long as they have the judgement or proper lien papaerwork filed. They are amazingly efficient when it comes to attaching liens and they gooble up bank accounts like pacman. Put the account in trust for someone else and you be the custodian. Solves that issue. Forget having a bank account if you owe the IRS.
No. If it is not joined then it is your money, not your spouse's(e.g if she owes too much tax she will be placed in jail.(jail=time=money) it will be her time=money not yours that will suffer the consequences..., . Only joint accounts allow the IRS/State to do this though.
It sounds like your mother has an account with an "in trust for" phrase on the name of the account. She intends for you to inherit the money without that money having to go through the probate court. At least that is how it works in this particular state. Normally, the IRS does not touch that type of account. However, if you owe back taxes and the account contains any money when she dies, they will take it before you get it.
sometimes
it is my understanding that the only people who can take money from your account without your permission are the IRS to pay back taxes. unless you sign somthing giving the bank permission to take money out of your checking account I don't think they can do it. make sure you read the fine print of any loan document so you know that you are not giving them the right to take money out of your checking account.
Yes if you owe the IRS money your tax refund will be offset, and usually if they are aware that you owe them money, they will offset it immediately.
Yes if you filed a join tax return Or you have a join bank account. IRS will garnish 401k because they see it as a income.
No. Since you are black, its obvious you already get free money from welfare. The IRS only bothers people with jobs.
If you have received a phone call, claiming to be from the Internal Revenue Service, telling you that you owe taxes, threatening you with arrest if you do not pay immediately- it is a scam. First, the IRS does not call you- you get a registered letter. Second, you are not arrested for owing money- you CAN be hauled into court for evading taxes. If you owe the IRS money, and they want it, they can take it without your permission. They have the power to take your paycheck, your bank account, your car and your house.
If you mean IRS money owed to you, they will first take that money, called a refund and then look for the balance. Yes, they can and they will. They will attach any IRS refunds you have coming to you. It may not happen the following year, but eventually it will be deducted, with interest.