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Chad CFP ®
Chad CFP ®, CERTIFIED FINANCIAL PLANNER TM, Professional
Category: Tax
Satisfied Customers: 633
Experience:  Managing Director at Caros Group
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My husband died in2015. I found out taxes were not filed.

Customer Question

My husband died in2015. I found out taxes were not filed. Worked with IRS and now have a tax lien that I pay monthly. The company my husband worked for was in bankruptcy but now I just got info that he had a pension and I can get a one time lump sum as his survivor question is after the 20 percent taxes are taken off that amount can thr IRS take the rest. It's not a lot but it is to me. Thanks
Submitted: 5 months ago.
Category: Tax
Expert:  Chad CFP ® replied 5 months ago.

Hello, My name is***** am a Certified Financial Planning ® Professional. Welcome to JustAnswer!

I understand you currently have a tax lien imposed by the IRS, but have worked out a payment plan. Are you current on your payments and what property was your tax lien placed on? Bank account, home, etc?

Expert:  Chad CFP ® replied 5 months ago.

Assuming you are current on your payment agreement with the IRS and you have not received additional Levy notifications from the IRS and continue to file your taxes, the proceeds from the Pension payout would be safe.

Ensure to make your agreed upon payments, file your taxes annually or the IRS may take additional steps to recover assets.

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Chad CFP ® professional

Expert:  Chad CFP ® replied 5 months ago.

Hello,

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Chad CFP ® professional