levy on bank account for IRS

by Michael
(California)

I just receive a notice of levy. My girlfriend and I share a bank account where she is the primary. Can the IRS collect money from our joint account?

Comments for levy on bank account for IRS

Click here to add your own comments

Nov 26, 2010
 can IRS levy joint account?
by: Gerri

Michael,

According to the IRS website:

"If we levy your bank account, your bank must hold funds you have on deposit, up to the amount you owe, for 21 days. This holding period allows time to resolve any issues about account ownership. After 21 days, the bank must send the money plus interest, if it applies, to the IRS. To discuss your case, call the IRS employee whose name is shown on the Notice of Levy."

We assume that since this is a joint account, it is at risk. However, our expertise is in debt collection issues not IRS levies. We would encourage you to contact a firm that specializes in resolving tax debt to get a definitive answer, as well as help resolving this.

We hope you are able to find a solution to putting this tax levy behind you.
Mar 17, 2011
 IRS Levy
by: Anonymous

I have experience with this! If the levy is for you and your girlfriend is the primary on the bank account, chances are they will not garnish that bank account, unless, you filed your taxes with your girlfriend.

BUT

They will keep after you and if they are at this extent, other financial systems will not be available to you, i.e. opening your own bank accounts, etc. I suggest you call the IRS right away and make a payment arrangement with them. If you are having trouble paying it, ask them what is the lowest payment they will take and make sure you make it!!!! If the debt is over 4 years old, file bankruptcy and this is the only way you can get rid of it. (I just filed bankruptcy.) The IRS charges so much interest you will never pay it off in payments. You can file a form 843, which they do not volunteer and that is to get them to stop the interest and penalties. Just pay the IRS as you will never escape them. Also, if they have levied your bank account (call the bank to find out or go try to withdraw money), as soon as you make a payment arrangement with them, make them FAX a release to your bank. Don't let them lie to you, they can and will fax a release within hours. Make them stay on the phone with you while they confirm the FAX. Let us know how it goes.
May 09, 2011
 IRS Issue
by: BP

Like your feedback. Should filing bankruptcy be done first or calling them to make payment arrangement?

Click here to add your own comments

Return to Debt Collection Questions.

Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2018 by Mary Reed and Gerri Detweiler.
All rights reserved.

Disclosure: We may receive compensation for marketing some of the services mentioned on this site. Above all though, our goal is to recommend products and services we believe can help our readers. You can learn more here.