Can The Irs Take A Life Insurance Check?
- 61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaInteresting. 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, 2013flag this answer
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