My previous company invested money in an insurance policy that was half mine and half the corporation's. A taxable amount showed up on my paycheck. After 4 years I terminated my employment with the company. I requested that they policy be canceled and that I receive a separate check for my portion. Insurance said it was a joint policy and that it would have to be a joint check. Corporation received the $96K check and both the Treasurer and I signed the check. He suggested that it would cash faster at his bank since they knew him. He said he would pay me once the check cleared. He called me the next day and said the IRS froze all their accounts and seized the money and that they said that it was done legally. The Treasurer gave me a copy of the check. I have e-mails and text that state that they company does still in fact owes me 47K but they don't know when and if they will be able to pay me since they had other priorities. What can I do? I cannot afford to pay to sue.
Yes, you can afford to sue. That's a lot of money. IRS freezing acct is a common story to not pay. If you wait too long, you will never be able to collect it.
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