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No. You should only be taxed on income, not on your savings.
Advice on education savings accounts can be obtained online via a number of websites. Such information is available on Forbes, H&R Block, IRS, About and WikiHow.
Offshore saving accounts of US citizen are affected. The balance and income of those accounts are reported to IRS for tax purpose
Yes. A credit union has savings and checking options and either one or both can be seized to repay a delinquint IRS debts for back taxes
Simple answer: yes, the IRS can levy anyone, anything, anywhere, anytime. Pay them what you owe, or they will take it... On another note, if you are referring to a matter of owing the IRS on a personal level, they may choose to simply levy any personal accounts you have instead of drawing from the corporate checking account.
No, but the IRS may take the car to satisfy the tax debt. They can also freeze banking savings/checking accounts and take your pay check. You don't want to play around with them. Pay the taxes and you can make payments to them if you can't pay the full amount.
They can not close your accounts. They will however monitor all activity coming in and out of the accounts of the signer who is flagged for investigation. They will whipe those accounts clean every so with out a warning or ticket. The bigger concern should be if they levy the bank account, how many outstanding checks are you going to have that now will not clear? Many people end up with hundreds, if not thousands, of dollars in bounced check fees....which might make the bank close the account.
yes, if you are refering to the IRS
The IRS has announced an amnesty program for off-shore accounts, and HSBC is participating in this program. Still, some of its customers are being prosecuted for their failure to disclose these accounts.
The IRS does anything they feel like, as many times as they like. It was a major reason I moved to Canada.
10,000$, Then it must be reported to the IRS, and only if in cash.
As often as they like.