Wage garnishments and collections
in Law ·
Hey,
Not sure if this is the right sub—if not, mods, please move it.
I’ve got a question regarding LLC accounts and how they tie back to personal accounts. Here’s the deal: I’m looking to start an LLC, but when I went to the bank today to check my personal account, it turns out everything is frozen. I haven't had a chance to check with the IRS yet to see what the actual amount is or why... but I need to know: does this affect the LLC if it has its own separate account? Basically, if I set up the business, can the IRS freeze the LLC's funds too, or is it limited strictly to my personal accounts?
And even if they can't touch the business money, since I'd be the sole owner, could the IRS just come after the LLC account anyway? Or is the LLC considered a totally separate entity that stays off-limits? Also, will having a frozen personal account cause any headaches when I actually try to open the LLC? Thanks!
Not sure if this is the right sub—if not, mods, please move it.
I’ve got a question regarding LLC accounts and how they tie back to personal accounts. Here’s the deal: I’m looking to start an LLC, but when I went to the bank today to check my personal account, it turns out everything is frozen. I haven't had a chance to check with the IRS yet to see what the actual amount is or why... but I need to know: does this affect the LLC if it has its own separate account? Basically, if I set up the business, can the IRS freeze the LLC's funds too, or is it limited strictly to my personal accounts?
And even if they can't touch the business money, since I'd be the sole owner, could the IRS just come after the LLC account anyway? Or is the LLC considered a totally separate entity that stays off-limits? Also, will having a frozen personal account cause any headaches when I actually try to open the LLC? Thanks!