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IRS NOTICES | 668-A: Notice of Levy on Bank Account or Accounts Receivable

Updated: Sep 21


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An IRS 668-A is an IRS order to levy and seize your bank account(s), brokerage accounts, your client payments to you, and any 3rd party payment to you.

Should an IRS 668-A order to levy be sent to your bank, this is what will happen, The bank will freeze all of your money sitting in your account at the time of the levy. Any money deposited after the levy hits your bank will not be a part of the seizure. To seize your bank account again, the IRS will need to send another 668-A order. This is unlike a wage garnishment which is continuous. Once the bank has frozen your money, you will have 21 days to get all or part of your money back. The 21 days includes Saturdays, Sundays, and holidays so you really don't have a full 21 days. The IRS isn't open for business on Saturdays, Sundays, and holidays. The bank will notify the IRS as to the amount that is frozen. If you believe that simply calling the agency and asking them nicely to give you back your money will suffice, you are dead wrong.

Some think that their money is shielded from IRS seizure because that added an elderly parent to their account. This is a common tactic and the IRS is always one step ahead. The IRS will force you to show that the money belongs to a secondary party. They will want proof and a lot of it. The best thing for you to do is have an experienced Tax Attorney handle the IRS for you. The IRS will have little respect for a naïve taxpayer who has little knowledge of the IRS Code. The IRS will request a complete financial (IRS 433-F) be submitted. It would be better for you to have an experienced tax professional put an IRS 433-F together for you. It is at this point when the decision for the IRS to keep your money or release it back to you is made. Due to the time constraints placed on you by the IRS, you really don't have a lot of time. If you have been hit with a bank levy, you need to act fast. That's the truth.

This article is brought to you by the tax professionals at Flat Fee Tax Relief. We are a Coast to Coast Tax Relief and we are licensed in all 50 states.


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