Can a tax levy be put on my account if my father owes back taxes? 4 Answers as of February 05, 2011My parents asked me to put my name on their joint account just in case if something would happen to them. I am worried because they owe back taxes from my fathers business. My question is can the IRS come into my own personal bank account/savings and take my money even though my parents are not on my account? Also could they intercept my taxes to pay off their debt just because my name and SS# is on their account now? Even though I have nothing to do with it and I do not owe anything.
Givner & Kaye | Bruce Givner
Can the IRS put a levy on your account? The answer to any question like that is "yes." Should the IRS do so if the debt is that of your parents and your parents do not have an interest in your account? The answer is "no." So, you must hope it does not occur so that you need not engage in a battle of proof.
Answer Applies to: California