Under some circumstances, the IRS can go after assets a taxpayer transferred to you to satisfy that taxpayer’s liabilities. There is an extensive body of law governing whether the IRS can collect. In recent years, transferees face even greater exposure because of cases concerning when the IRS can collect. We recently published an article on Law360.com, “IRS Gets Too Much Time To Go After Transferred Assets," explaining why those government-favorable rulings are incorrect. If you have any questions about this issue, please contact one of us or any of the other Tax lawyers at Thompson & Knight.