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Articles Posted in retirement account levies

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Can the IRS Levy My Retirement Account?

The IRS can levy the funds in your retirement accounts, including 401(K) plans, IRAs, profit sharing plans, SEP-IRAs, and Keogh plans. Many taxpayers may be unaware that the IRS has this authority because retirement plans are often protected from creditors. However, the IRS has powers that exceed those of most…

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