The IRS dosn’t know of a transfering of a franchise as well as which we am a brand new owner, would they care? would they stop any reposetion of assets, or do they take resources as well as afterwards they investigate? would they tighten my bussines? What can we do? How can we equivocate this complaint subsequent time?
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wartz
December 2nd, 2009 at 1:31 am
IRS doesn’t care. The corporation is the delinquent taxpayer not you and it can collect from anything the corporation has or gets. If you are not careful, IRS could pursue you personally for any unpaid withholding taxes due from before you took over.
I am an enrolled agent, a tax specialist licensed by the US Treasury Department Office of Professional Responsibility (not an IRS employees) to represent taxpayers the same way as attorneys and CPAs and specialize in clients who have substantial outstanding tax liabilities or long periods of failing to file returns. If you would like some additional information about dealing with the mess you have bought into outside this forum, you can send me email through my profile.
Sharon T
December 2nd, 2009 at 1:31 am
See a lawyer. Seriously!
maybeanotherday
December 2nd, 2009 at 1:31 am
if i were you i’d be talking to my lawyer,FAST!!!
jason25000
December 2nd, 2009 at 1:31 am
Get all your paperwork ready (ownership transfer etc.). Will probably have to get a lawyer. Doubt they would close your business but you will need to talk to them very soon. As far as the future goes, it seems that a lawyer should be able to check out any tax, mortgage, etc type of issues. Good luck.
ranger_co_1_75
December 2nd, 2009 at 1:31 am
IRS has first lien on all assets and moneys, even debts owed to the company. If the company owed the IRS, selling the company does not terminate the lien. The IRS can and will seize all assets including debts owed to the company by customers, despite the company being sold.
In simple terms, when you bought the company, you also bought the IRS debt. I recommend you see an attorney that specializes in Tax law.
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