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Tax question....Need Help!

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Saffyreblue
Valued Member

Tax question....Need Help!

DH just found out his money markets were frozen by the IRS. In 2003 he owned a business in NJ with two partners. That same year, he found out one partner was stealing off the top. The business closed and they went to court. The partner that was stealing bought the assets in the company from DH and the other partner. A settlement was reached and DH recieves a monthly deposit from the "stealer". Now the IRS says that in 2003 the taxes for the business were filed in DH's name. One problem, DH never filed or signed those taxes. Now he has to go to a "hearing" with the IRS to settle on the amount. My question is #1, since the IRS already froze his money markets, does this mean a judgement of some sort was already entered and showing on his credit report? we are currently waiting for the free reports to be delivered....and #2, if anyone knows tax law, was that other partner allowed to file the taxes for the business in DH's name? Thanks a lot!!!!!
Message 1 of 8
7 REPLIES 7
braznyc
Frequent Contributor

Re: Tax question....Need Help!

I have no idea I would also suggest you use either Freecreditreport.com, or true credit to pull all 3 of your CR so you can see right now and not wait. Has he called the IRS?
Message 2 of 8
Saffyreblue
Valued Member

Re: Tax question....Need Help!

Oh yes! We've called the IRS and even met with them for a "status meeting" because originally when the accounts were frozen, we had no idea why. Apparently all correspondence had been sent to the business that no longer exists. So, we called to see what was going on and they set up the conference. WHen he went in, they told him that the taxes were filed in his name and he is responsible because the other partner said he gave up his interest in the company before buying the assets. DH inquired as to whether or not the third partner was involved with this tax problem and the IRS told him they couldn't give him that information. That a lawyer would have to subpoena the information. Before we do that, I wanted to get some information before we pay for a costly lawyer....I just don't see how someone could file taxes in DH's name if he didn't even own the company anymore. If anything shouldn't the taxes have been filed in the business's name with all three officer's responsible?
Message 3 of 8
Anonymous
Not applicable

Re: Tax question....Need Help!

I can't really say except to refer you to the firm I use (they love crushing the IRS, BTW).  They are nationally known and respected (really top-notch) http://tax-masters.com/
Message 4 of 8
Saffyreblue
Valued Member

Re: Tax question....Need Help!

Thanks LS! I'll check them out. I think I'm gonna have to get an expensive lawyer for this one Smiley Sad
Message 5 of 8
Anonymous
Not applicable

Re: Tax question....Need Help!

email shawn nagle - he handles client relations - and if nothing else can refer you to a competent CPA or tax attorney in your area.
 
I've always had everything in corporations never a partnership - so outa the area of personal knowledge for me.
Message 6 of 8
Saffyreblue
Valued Member

Re: Tax question....Need Help!

Does that matter? He said it WAS a corporation. That's how the guy got his SS number. Apparently all officer's SS#s have to be on the incorporation papers. So, he used all my husband's information.
Message 7 of 8
Anonymous
Not applicable

Re: Tax question....Need Help!

You have LLps, LLCs, INCs, and S-corps (to start)... and how they are treated by the IRS (and state comptrollers) vary - and who can be held liable varies -- if he forged your DH's sig on the paperwork then you stand a chance.  The last return still should have been filed though (by someone)
Message 8 of 8
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