When the IRS is placing a lien, can they seize co-owned property or joint accounts? (I'm not the primary).

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When the IRS is placing a lien, can they seize co-owned property or joint accounts? (I'm not the primary).

2007-01-10 01:00:26 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

2 answers

Generally they can only seize the assets of the taxpayer in question. For example assuming the shareholders of a company are not directly involved in the dispute, the IRS can not go after their assets to settle a corporate debt. The reverse would hold true too.

2007-01-10 06:47:01 · answer #1 · answered by zudmelrose 4 · 0⤊ 0⤋

Indeed they can and do.

2007-01-10 01:08:09 · answer #2 · answered by ninasgramma 7 · 0⤊ 0⤋