Can The IRS Take Money From Life Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    When life insurance is left to a beneficiary, the death benefit is the property of the beneficiary. The IRS cannot take the life insurance proceeds unless the beneficiary was a cosigner for whatever the IRS is seeking payment. If the beneficiary of the policy is the Insured's estate, then the life insurance money is available to the IRS.
    Answered on December 4, 2013
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