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IRS Confiscating Tax Refunds to Pay Parents' Debt


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#16 Torolol

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Posted 13 April 2014 - 06:08

inheriting your ancestor' debt are like inheriting your ancestor' sins, somehow along the fuzzy logics ...




#17 -Razorfold

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Posted 13 April 2014 - 18:56

inheriting your ancestor' debt are like inheriting your ancestor' sins, somehow along the fuzzy logics ...

No not really. If you want to inherit all your parents money / house etc, then you inherit the debt that comes with it.

Otherwise say I had a terminal illness and I had two kids, what's stopping me from taking out tons of loans, buying a new house and giving it to my kids? Then they essentially get free money and a free house with no obligation to pay anything back.

#18 Polarman

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Posted 13 April 2014 - 19:56

A few years ago, my wife had to go to a notary and pay not to be put on the will because she did not want to pay 90,000$ of accumulated debt from a deceased family member.

 

Sometimes people think that inheritance = quick $$.

 

Well that never worked for both of us. :(



#19 Torolol

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Posted 14 April 2014 - 01:01

Otherwise say I had a terminal illness and I had two kids, what's stopping me from taking out tons of loans, buying a new house and giving it to my kids?

of course whomever give you the loan must be idiots for not doing any background check, so let me know who gives you such loans.



#20 Secular Humanist

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Posted 14 April 2014 - 01:16

of course whomever give you the loan must be idiots for not doing any background check, so let me know who gives you such loans.

 

so you think loan givers have access to your medical records? lol



#21 -Razorfold

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Posted 14 April 2014 - 02:36

of course whomever give you the loan must be idiots for not doing any background check, so let me know who gives you such loans.

Why do you need a background check for a loan?

If I have good credit, a long credit history and a job I'd mosty likely get a loan. A bank doesn't have access to your medical records when you apply for a loan, a credit card etc.

#22 T3X4S

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Posted 14 April 2014 - 02:50

I can tell some really nasty stories about the IRS.  What they did to me and my family years ago over my father's income tax was nightmarish.

 

It included the !@#$%^&*#$%^&* IRS agent Earl Bishop, who told my mother, "I wont stop until I see your family in the streets with nothing but the clothes on your back"

Also placing a lien on my car, which was given to me, before any income tax issues ever took place, and my family had to pay $93,000 just to get my car out of the impound so I could go back to school...

In fact, when dealing with the IRS, you have to pay off whatever money they claim you owe them, before you can counter-sue if the claim is bogus. 
You are guilty until proven innocent when dealing with them.

What started as my dad needing to pay $7000, ended up over time, interest, penalties, the IRS bringing a personal lawsuit 1 day after the statute of limitations had expired, resulted in having to pay over $600,000.

I guess it was a bad idea to use the same tax attorneys as Willie Nelson.



#23 Raa

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Posted 14 April 2014 - 03:13

Okay so if you inherit their debts, let's see the evidence of said debt please!