If i buy a business & previous owner didnt file taxes am i responsible?

Question

i dont think she filed taxes for 2007, so will i have to pay them along w/2008 taxes or will she be responsible since she was owner

Answer 1

If you buy the assets and not the business entity you would not be responsible for the prior debts and taxes

Answer 2

You should never buy a business without a contract and having that contract approved by an attorney that represents your interest.

Answer 3

Depends.  How is the business organized?  And how was your contract structured?  

If your contract states that you are picking up all accounts payable then you will have to pay the tax bill along with all other bills.

Did your attorney handle the purchase for you?  And what does he or she say??

Answer 4

It depends on multiple factors such as the type of business entity. You definitely need to seek help from an attorney on this matter ASAP.