If I owe taxes as an individual does it affect my incorperated business? 1 Answers as of March 21, 2011

The IRS has put a levy of my wages for back taxes. If I incorporate my business, can they still levy my wages through my company as an individual or make my company pay?

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Steven J. Fromm
Steven J. Fromm | Steven J. Fromm & Associates, P.C.
Generally, your personal tax liabilities are not the debts of a corporation. However, in very rare cases where you transfer assets from your personal name to a corporation to avoid creditor claims, the corporate assets may be subject to claim. If your corporation pays you wages, then the IRS could levy or garnish these wages just as with any other wages you are paid. But your company would not be responsible for the taxes in most cases.
Answer Applies to: Pennsylvania
Replied: 3/21/2011
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