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I am expecting the IRS to try and take my semi truck and

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trailer, which I own outright...
I am expecting the IRS to try and take my semi truck and trailer, which I own outright. If I start an llc or form a gen. Partnership in Crestview, FL, will I be able to have in my possession, the titles to both, showing the llc or partnership.as the owners? Thanks! *****
Submitted: 4 months ago.Category: Legal
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7/27/2017
Lawyer: Michael Bradley, Lawyer replied 4 months ago
Michael Bradley
Category: Legal
Satisfied Customers: 1,141
Experience: Owner at The Protection Group LLC
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Legally, that is something that you can do. You can open up an LLC and put assets into the name of the LLC. However, that does not mean that the IRS may not still try to seize the vehicle. They can try to argue that the asset was moved to avoid it being seized. If you are going to do this, I would suggest that you do this right away and then it would be up to the IRS to figure out whether it was done to avoid their attempt to collect.
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Customer reply replied 4 months ago
There are 2 letters they send . First one is a 90 day intent, to be second , a 30 day gonna do it... I've yet to get the first letter...my original question was , in the state of FL, will I be able to have and hold both titles that show the name of the Llc as the owner?
Lawyer: Michael Bradley, Lawyer replied 4 months ago
Since you have not received either letter yet, then you can transfer those items into an LLC that you have created. You can be the sole member of that LLC. That can potentially give you an additional layer of protection. Since the IRS has not sent anything yet, then I would do that ASAP since you can argue that you are not doing it to avoid the IRS. However, you really need to do that quickly
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Customer reply replied 4 months ago
Sorry,
Maybe I am not being clear enough... "my original question was , in the state of FL, will I be able to have and hold both titles that show the name of the Llc as the owner?". How do I go about doing that? Thank you.
Lawyer: Michael Bradley, Lawyer replied 4 months ago
Have you set up LLC yet?
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Customer reply replied 4 months ago
No, not until I finish my research. Then I'll proceed.
Lawyer: Michael Bradley, Lawyer replied 4 months ago

You need to open your LLC.

You can absolutely set up an LLC and transfer both of those items into the name of the LLC. That will give you a level of protection against and IRS intercept. However, you need to do it before you receive any from the IRS

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