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my subchapter s corp owes payroll taxes from 2009. the business

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currently draws no income and...
my subchapter s corp owes payroll taxes from 2009. the business currently draws no income and is dormant. i will be working as an employee shortly, and intend to dissolve the company. the irs indicated they will be placing a lien to collect this money on feb 10 and will seize personal bank accounts. my wife and i have a joint persona account and i really dont want her money to be subject to the garnishment. is there anything i can do at this point to insure the irs doesn't do this?
Submitted: 5 years ago.Category: Tax
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Answered in 33 minutes by:
2/1/2012
Tax Professional: Robin D., Senior Tax Advisor 4 replied 5 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,875
Experience: 15years with H & R Block. Divisional leader, Instructor
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Robin D :

Hello and thank you for using Just Answer
Unfortunately, if you and your spouse have a joint account they will levy the money from the account and will not calculate any portion that may only belong to your spouse.
If your spouse had an account in only their name then they could not levy that (provided your psouse did not have an association with the business).
If a bank account is levied, it only reaches money in the account when the levy is served. It does not reach money deposited later unlike a levy on wages which is continuous until the debt is paid.
A levy on the wages is covered by an exempt amount, a bank account levy is not covered by that and the entire account can be requested if the debt is high enough to do that.
You can call the number on the notice if you disagree that you owe the amount. You could request a Collection Due Process Hearing. Use this link and see if you are still within the window to request
http://www.irs.gov/individuals/article/0,,id=160778,00.html
If you are it will stop the levy for a time perhaps. I know this is no promise but it is basically your best chance for now.
Thnak you in advance for clicking ACCEPT.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,875
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