Can the IRS levy my Social Security benefits or other retirement accounts, such as an IRA?

Yes.  Regardless of the protections that these types of funds enjoy from collection under state law, the IRS unapologetically can and will levy these accounts to satisfy your tax debt.

Now, the IRS cannot get to these accounts until they vest, i.e. until you have identifiable, enforceable rights in them.  The IRS cannot reach them until you legally can, but vested accounts are sitting ducks for a levy, once the IRS jumps through a couple simple procedural hoops to get at them.  These types of levies are continuing.  In other words, the IRS does not have to give notice over and over once they hit.

If you are on a fixed income and these retirement funds provide your only source of livelihood, you can see how devastating these levies can be.  Time is of the essence in asserting your rights.  Find out what these rights are and how to assert them from a local, licensed lawyer here in Oklahoma City.  Call Travis Watkins today at 405-607-1192 for more information. 

Travis Watkins
Senior Tax Attorney