MyVirtualCPA : Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
MyVirtualCPA : If you have an installment agreement and are making timely payments the IRS will not try to take your inheritance
MyVirtualCPA : The IRS would not know about this inheritance as it is not reported to them
Customer: So they will not take money from an individual once they receive the money. I have a small inheritance from my mother and that would come in the next few weeeks. And yes I have paid on time and have an installment agreement
MyVirtualCPA : No, as long as you are keeping your installment arrangement current
Customer: thank you so much - what a relief
MyVirtualCPA : Now, if you stop making payments they can take money from your bank account
Customer: oh no - I will be good - what a relief - thank you
Customer: that is all I needed - I appreciate your response.
MyVirtualCPA : You're welcome
MyVirtualCPA : Please rate my response as excellent so that I may receive credit for assisting you today