The IRS generally only levies retirement account funds when there are no other alternatives. If you don’t have other valuable assets and have failed to cooperate with the IRS, it’s possible that the money in your retirement account will be seized. However, there are many ways to avoid a retirement account levy, and there are… [Read More]
Important Notice: Consumer Alert from the Attorney General on “Tax Relief” ScamsCan the IRS Levy Assets in a Retirement Account?
When Will the IRS Levy Retirement Accounts? The IRS can levy the assets in a qualified retirement account, such as a 401(k) or an IRA. However, the IRS will only levy retirement funds as a last resort. They would rather levy other assets, such as a bank account. Before the IRS will levy a retirement… [Read More]