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Phillip, My husband owes some back taxes from 2008 and 2009.

Hi Phillip,My husband owes some...
Hi Phillip,My husband owes some back taxes from 2008 and 2009. He also needs to file returns for 2013 - 2017. He has not paid, nor filed, due to the fact that he doesn't make enough money to pay the large amounts. He has a C Corp remodeling business in which he has filed returns and paid the taxes on to date. Can they go after his Corporate checking account? We are in NC. I have paid all of my taxes and filed all of my returns personally.
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3/28/2018
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,861
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Hi. My name’s Lane.

...

I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

Bear with me just a moment.

I'm reviewing your question now and typing up my reply.

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As long as you filed as married filing separately IRS has no issue with you.

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However, so sorry to be the messenger here, but if his issue gets to the place - after the required notices are sent - that they file a federal tax lien, they can levy accounts or any other assets in which he has an ownership interest, including things that you own jointly.

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And although they may not be able to take assets owned by the corporation. The worst case scenario is that they access corporate assets by taking the C-Corp itself - which IS an asset that your husband owns.

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Please let me know if you have ANY questions at all, before rating me.

If this has helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars on your screen, and then clicking “submit")

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Lane

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Customer reply replied 4 months ago
Ok, thanks. We have a joint checking account, but I have requested that he be removed from that account. I always filed married/separately. The only assets of his corporation is the checking account, but that money belongs to the projects he is working on......if they take it, it will put him out of business and cause him to get sued by the homeowner. Also, without his salary (he is paid via 1099 from his company), we could not even pay the rent. We received a letter from the IRS that they were hiring a private collection agency, which has already contacted him. We aren't sure what to do next.
Customer reply replied 4 months ago
Can you not answer further?

This started last year - IRS says it will not assign accounts to private collection agencies involving certain types of taxpayers, including: minors, those in combat zones, victims of tax-related identity theft, accounts that are subject to installment agreements or classified as an innocent spouse case.

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And with IRS the first move to begin to work with them is always to get the returns filed whether you can pay or not.

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I'd recommend getting everything filed and then applying for an installment agreement

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Another option is to wok with a god tax attorney to see if an OIC (Offer in Compromise) might be filed - making the case that the business needs to stay in place in order to survive and get to the place where SOME of the tax debt can be paid.

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but again as a part of this process, he needs to get everything fled AND keep filing and paying gong forward so the payment plan doesn't go into default

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Customer reply replied 4 months ago
Ok, that is what I thought too. What do we do with this collection agency meanwhile? It says on the IRS site, that if you don't want to work with the collection agency, to respond to the agency with a letter. We just want to buy some time, file the returns and work with a tax lawyer to get the amount due lowered considerably to a settlement, or installment.
Customer reply replied 4 months ago
Oh, and my husband is going to be 65 this year.....he only has may 5 or so more years to work.

Yes, what you should do is exactly that. (start the communication with IRS, by sending that letter). THEN also send a copy of the letter with a cover letter telling the collection agency that you are working directly with IRS (referencing that IRS site) ... send both certified mail

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Customer reply replied 4 months ago
Thanks. Is there a law firm that you guys can recommend that can help us?

Where are you (city/state)

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Customer reply replied 4 months ago
Duck, NC....in the Outer Banks. 27949.

I don't know anyone personally in that area, but this is a good place to start.

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http://lawyers.findlaw.com/lawyer/practicestate/taxation-law/north-carolina

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Look for an attorney that has a JD, and LLM in taxation

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JD is the law degree, but that LLM is a master of laws in taxation.

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This should keep you away from the many shysters that sometimes play on peoples fears of IRS

Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,861
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified
Lane and 87 other Tax Specialists are ready to help you
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Customer reply replied 4 months ago
Thank you every much. I will rate you highly.
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