Teresa Giudice and Louie Ruelas could seemingly have their Bravo TV wages garnished by the government if they don’t pay off their over $3 million tax debt.
Tax Controversy Attorney Adam Brewer warned the Real Housewives of New Jersey couple via The US Sun. (Note, Adam Brewer has not worked with either Tre or Louie, but provided his expert opinion.)
Teresa and Louie’s tax drama, explained:
The penalties Louie and Tre face if their tax lien goes unpaid are extreme. “Mainly, we worry about late payment penalties. IRS is generally going to top out at 25 percent,” noted Adam. “She’s looking at paying past due taxes plus current taxes at the same time. It really can put a crutch on you.”
The tax attorney explained the IRS could garnish “wages” and “bank accounts” if the debt goes unpaid. “If you’re not in a payment plan, if you don’t have some sort of formal agreement to pay it, then they can seize assets.”
“The bank accounts and wages, that’s easy. They send out one letter to a bank or employer and seize the funds. That’s definitely a risk if she’s not in a formal payment plan. If the lien is filed, they give you the opportunity to resolve it. If she isn’t already in a repayment plan, that’s the first thing you can do to protect yourself.”
It looks like the couple’s love bubble won’t be all she has to reside in …
The tax attorney explained how Teresa and Louie’s physical properties, such as their $3,350,000 mansion in Montville, New Jersey, are likely safe from the government. “Physical assets we don’t generally see. Especially if it’s a primary residence. You don’t see the states or IRS go after primary residences.”
“It’s an inefficient process for them. They have to send out agents, to collect it they have to resell it. They’re not going to recoup a lot of money on it.”
