Selling a high dollar site & IRS

lovemetender

Junior Member

Jul 27, 2010

105

39

• Sep 28, 2010

• #1

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.

 

J1218

Senior Member

Jan 9, 2010

814

610

• Sep 30, 2010

• #2

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.

 

lovemetender

Junior Member

Jul 27, 2010

105

39

• Sep 30, 2010
• Thread Starter Thread Starter

• #3

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

 

I

iamwhoiam

Newbie

Jul 20, 2010

17

0

• Sep 30, 2010

• #4

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.