Can The Irs Take A Life Insurance Check?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Interesting. Life insurance death benefit proceeds generally are distrusted tax free to the policy beneficiaries. Those funds are generally deposited into the beneficiary bank account. Once those funds are commingled with other monies deposited into the account, they are subject for collections by the IRS as assets to satisfy taxes and penalties owed.

   Answered on August 4, 2013

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