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Selling a high dollar site & IRS

Discussion in 'Site Flipping' started by lovemetender, Sep 28, 2010.

  1. lovemetender

    lovemetender Junior Member

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    I plan on selling one of my properties and it will bring in more than 10K. Is the IRS going to be notified when this money hits my account? I owe them money and I do not want them to freeze it. The money would be going into a business account, not a personal account.
     
  2. J1218

    J1218 Power Member

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    I'm also curious if the IRS can see your income from flipping sites. I know Flippa doesn't send in our personal info and I'm pretty sure Escrow and Paypal don't either. (They've never asked for our socials or anything)

    If someone else with more knowledge could answer this I'd appreciate it.
     
  3. lovemetender

    lovemetender Junior Member

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    I am pretty sure the IRS can't touch a business account with your name on it for issues with personal taxes.
     
  4. iamwhoiam

    iamwhoiam Newbie

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    OH, the wonderful IRS. Funny how we're taught we're SOOOO FREE...yet, the government can take your house from you if you owe them a few bucks.

    That's not being free to me.

    BUT, from what I've heard and read, they can't take business $ if what you owe is personal.