I owe bank of america 1k for overdraft fees beats the hell out of me why they gave me money but in any case i have a bank account through someone else now but i am worried about keeping a large amount of money in it so can the irs take the money out of my new bank account and pay off my debt with B of A? if the irs does not do this would anyone else be doing it should i worry about keeping funds in a bank account---
2007-02-20 03:48:36 · 9 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
why should i pay-- they did not file a judgment and it is about to fall off my credit--- and as a matter of fact my credit is great i have one old DQ--collections i have about 20 credit lines that have never been late hahahahahahaha moron
2007-02-20 03:57:36 · update #1
yes sir. BTW, not only the cash, but any other asset in your name. I once was visited by 2 IRS agents. It was a case of mistaken identity, they were looking for someone with the same name as mine, and they wanted to take possession of his truck that he used for his business. Sad part of this, his wife was the bookkeeper and was stealing the money, instead of paying the govt. They didn't care. So, do yourself a favor and be honest, pay what you owe and hold your head high.
2007-02-20 04:04:52 · answer #1 · answered by Fordman 7 · 0⤊ 0⤋
The irs doesn't care what you owe the bank, it only cares that you pay the proper amount of your taxes, if you don't pay your taxes, they will take your money by any way possible.
But the bank will sue you to get their money, and they will ruin your credit rating, so If you are afraid to put a large amount of money in a bank, why don't you pay off your debt to the bank with it?
2007-02-20 03:59:22 · answer #2 · answered by bob shark 7 · 1⤊ 0⤋
The IRS doesn't work for Bank of America so you don't need to worry about them. Bank of America can sue you and you'll have a judgement against you. This could also mean having liens against any property you may own.
Your best bet is to just work on paying the debt. Try talking to them and they may settle for less money.
2007-02-20 04:00:35 · answer #3 · answered by Parercut Faint 7 · 0⤊ 0⤋
Why would the IRS be collecting money you owe to B of A? The IRS does not collect money for anything except taxes that people owe to them.
2007-02-20 03:59:35 · answer #4 · answered by Faye H 6 · 0⤊ 0⤋
The IRS won't get involved with your debt w/ BofA; but, the BofA can sue you (and will if you don't pay them) and freeze your account. Pay off the debt before your credit is worse off than it already is.
2007-02-20 04:00:05 · answer #5 · answered by Celt 3 · 0⤊ 0⤋
IRS can freeze all your accounts if you owe them money but not for banks.
2007-02-20 04:03:08 · answer #6 · answered by jean 4 · 0⤊ 0⤋
you should be worried about paying b of a. your credit is shot. if you have a large amount of money, pay your debt. you're a thug and you won't get over. idiot!
2007-02-20 03:53:51 · answer #7 · answered by Anonymous · 1⤊ 0⤋
yes they can and take your cash out
2007-02-20 03:53:37 · answer #8 · answered by peanut 4 · 0⤊ 2⤋
They could.
2007-02-20 03:56:00 · answer #9 · answered by ianrwood_01 2 · 0⤊ 1⤋