• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

IRS Levy against Business

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

mel1960

Junior Member
What is the name of your state (only U.S. law)? Texas

I had an S-corp for a few years, which is now closed.
The IRS sent my business a Notice of Intent to Levy for late filling penalties ($2300) (I actually wasn't late, but that's a different matter I have to sort out)

My question is: Can the IRS execute the levy against my personal bank account, since the business account is closed?
Or can they issue a tax lien against my primary residence? (I ran the S-corp out of my home, but the house is titled to me personally, so it never was business property)

Thanks.
 


davew128

Senior Member
While its unlikely they could (or would) pursue you personally, if they issued the notice for late filing, based on the amount, I think its clear you did file late.
 

mel1960

Junior Member
While its unlikely they could (or would) pursue you personally, if they issued the notice for late filing, based on the amount, I think its clear you did file late.
Thank you for the reply, however I did file an extension in March for both business (Form 7004) and personal (Form 4868)
Both 1120S and 1040 were filed in October at the same time, so I was a month late on the 1120s, but no more. It was my final return.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top