If a corporation who owes money to the IRS does business with a foreign company, can the IRS legally attach that revenue as levied assets?
2006-07-13 10:34:58 · 3 answers · asked by needtoknow 1 in Business & Finance ➔ Taxes ➔ United States
A US corporation owes money to the IRS, the IRS issues levies on Accounts Receivable. One of the A/R customers is a foreign company with US bank accounts. Can the IRS attach that money as levied funds?
2006-07-13 10:38:19 · update #1
Yes, the IRS can send a levy to any account due your firm. If the company does business in the USA, even if it is foreign domiciled; IRS can levy the US branch. The US has tax treaties with some countries and can get a levy issued by an allied tax agency in some cases and they remit the funds collected to IRS(this is rare). You can appeal an IRS levy by going to the collection manager and then to the IRS Appeals office. You could file a Form 911 with the Taxpayer Advocate. However, if you are behind on payroll tax and not making current FTDs, you are probably out of luck.
2006-07-13 11:45:03 · answer #1 · answered by exirsman 5 · 0⤊ 0⤋
It depends -- where are the banks accounts for the corporation?
2006-07-13 10:36:34 · answer #2 · answered by ps2754 5 · 0⤊ 0⤋
8JYJY
2006-07-13 10:36:06 · answer #3 · answered by Life can be amazing. 2 · 0⤊ 0⤋