I have a business and and a bank account. I have a friend who also has a business and his bank account is frozen by the IRS. He still receives checks for work performed and wants me to run them through my account. Is this legal?
It could be illegal, if your friend is attempting to hide assets from the IRS. You could find IRS agents knocking on your door if the agency gets wind of this.
Your bank isn't likely to allow the arrangement, in any event. Banks often have policies against accepting third-party checks for deposit, and they tend to get very concerned if checks payable to one business are deposited to an account in another business's name. Its probably not a good idea, therefore, to accomodate your friend's request.
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It could be illegal, if your friend is attempting to hide assets from the IRS. You could find IRS agents knocking on your door if the agency gets wind of this.