how can I have a bank acct or any type of savings without them touching it?
2007-03-04 10:11:06 · 7 answers · asked by Darlene H 1 in Business & Finance ➔ Personal Finance
They must have gotten a Federal Tax Lien.
Do you have any idea how much you owe them? You do know that you're getting penalties and interest added on to the debt constantly, don't you?
It's not going to go away. You can't even file for bankruptcy and get rid of taxes so call the IRS and see if you can work out a payment plan with them.
P.S., someone said they can't take bank accounts and that is incorrect. See link below. They can attach any asset you have so get the thing paid. It's continuing to go up every month because you are constantly getting hit with interest and penalties. Call them and work out some sort of payment plan. You may need to see a tax attorney to get some help if this is a large amount that you owe.
No, you can't open an account that they can't touch. They already have a lien. They can legally go after any assets you have.
2007-03-04 10:19:06 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
Computers have made the world a lot smaller. There's not much you can do without the government finding it on the computer. You say they're already garnishing your check, is that not enough, do they want more? If they want more, the only other way to increase your standard of living, is to work "Cash" jobs that don't report to the IRS, and to hide your money where thefts can't find it. If they are satisfied with the amount they are garnishing, you shouldn't have any problems opening a bank account, unless you miss payments. About the only thing I've read recently that they can't touch is your retirement. You could go see a lawyer, but it sounds like you're best bet is too work out a payment plan with them and stick to it.
2007-03-04 10:19:11 · answer #2 · answered by Lance 3 · 0⤊ 0⤋
Am I to understand you are trying to get out of paying them? I hope not. It's your debt, you should pay it.
I think your best bet would be to pay them off entirely. You may also consider getting a loan to pay them off... a loan might have a much lower interest rate than the penalties and interest the IRS charges you.
Otherwise, you could open a secondary account. Have you regular acct for all bill paying or just for the IRS and open a secondary account where you can keep track of savings.
2007-03-04 10:35:58 · answer #3 · answered by Tiff 5 · 0⤊ 0⤋
As long as you are paying them regularly as agreed you can have a checking account for paying bills etc. As long as you just have a working balance with a $100 or less over they won't bother it. A savings account is a little different story. It is regarded as cash not required for living expenses and they may want to take it toward the debt.
Just to be safe though I would suggest you don't have any bank accounts or savings accounts in your name until the IRS is paid off.
2007-03-04 10:23:38 · answer #4 · answered by don n 6 · 0⤊ 0⤋
Not real sure on your question??? The IRS will not/can not go into any of your banking accounts and take your money. You will still owe them money. That is your decision if you take it out of your banking accounot or where you get the money. Talk to your employer about taking more money out each week--if at the end of the year you do not wish to owe money.
We each have to pay taxes--you are not excluded. So sorry.
2007-03-04 10:22:21 · answer #5 · answered by old_woman_84 7 · 0⤊ 1⤋
You probably can't they will freeze your account and take the money, it happened to a guy i used to work with, plus they were garnishing his wages.
2007-03-04 10:16:33 · answer #6 · answered by Stuck in the middle of nowhere 7 · 0⤊ 0⤋
you cannot...lucky they have not put liens on your other property...get them paid quick....they are brutall!!!!!!!
2007-03-04 10:19:35 · answer #7 · answered by Michael K 5 · 0⤊ 0⤋