Can the IRS freeze my bank account
Can the IRS Freeze a Commercial Bank Account?
My credit score is really bad, it used to be in the high 700's but now it's about as bad as you can imagine. I owe a lot of debt including the IRS, credit cards, banks, loans, etc.
I now have to start a business for a website that I'll be selling goods on.
When the business is in 2 people's name. Mine and a partner who helps.
If the IRS is after me and tries to freeze my assets, can they touch the commercial bank account? My partner is concerned this could happen and will they be unlucky too? But I would rather not write everything in my partner's name.
If the business is legally separate and not mixed up, they probably can't. What they can do is take a lien on it (so you can't sell the business) and garnish your income. When the corporate veil is pierced (and it's not that hard to get pierced if you're not careful), you can treat it as if it were your personal asset.
Check with a licensed attorney in your state. I am not a lawyer or a tax advisor.
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