if you had a joint banking account would the IRS be able to take money out of the account?
I have a student loan that hasn’t caught up to me yet but if they were looking for me and i had a checking account with my boyfriend would they be able to take money out of the account?
The only involvement that the IRS has in unpaid student loans is offset of tax refunds for unpaid government guaranteed loans in default. The IRS has no authority to seize a bank account for an unpaid student loan.
To tap your bank account for an unpaid student loan requires a judgment. Part of the legal process in seizing the bank account (after the creditor secures the judgment) would be identifying the owners of the funds on deposit in the account. If you both ignore the court order to provide financial information the court would likely order half of the account balance to be eligible for seizure.
I hate joint accounts
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