0
Can the IRS levy a bank account that is not yours but you are the trustee for that account?
Wiki User
∙ 15y ago
No.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
In Colorado who can levy bank account?
In Colorado it is possible for a debt collector to levy a bank account. It is necessary for the approval from a court in order for a debt collector to place a levy on the bank account.
Can a creditor levy your bank account after the statute of limitations have expired?
No
Can the IRS levy a bank account without a court order?
Yes
Are bank account levies allowed in Texas?
Yes, Texas allows a judgment creditor to execute a bank account levy, even if the account is jointly held.
Can a creditor levy your bank account and how?
A creditor can only levy your bank account by getting a judgment against you. To do that, they must sue you. And they must win in court. If you are sued by a creditor, be sure to show up for court to prevent this from happening.
You are trustee for your daughter's bank account the account name reads my name as trustee for daughter's name can IRS levy it for taxes you owe?
Probably not...however if they can show the funds in it were actually yours...then of course...and then the problems with commingling money as a trustee will start. That involves actual law inforcement, not the IRS.
In Colorado who can levy bank account?
In Colorado it is possible for a debt collector to levy a bank account. It is necessary for the approval from a court in order for a debt collector to place a levy on the bank account.
If you have a levy on a contractors bank account how do you get the bank to pay you the levy?
If the creditor wins a lawsuit and receives a judgment the judgment can possibly be used as a bank account levy. This would depend upon state laws relating to how the bank account is established.
When there is a levy on a bank account does it reject deposits?
no
Can only the government place a levy on a bank account?
No, but a bank account can only be levied by a court order.
Can you garnish a bank account when the owner of the company I have the judgment on has his Bank account listed under INC.in the Bank of America bank account?
Type your answer here... YES YOU CAN, THE LEVY IS HIT BASED ON THE SSN AND NAME SO IF THE DEBTORS NAME IS ON THE JUDGMENT AND HAS A BUSINESS ACCOUNT YOUR LEVY WILL BE GOOD.
In Pennsylvania can a creditor garnish your wages or levy your bank account?
They can levy bank accounts in most cases, they cannot garnish wages.
Can a creditor levy your bank account after the statute of limitations have expired?
No
What happens if a judgment creditor places a levy on a bank account and the account balance is less than the judgment amount?
You get fined a fee by the bank, your account is frozen, and they will probably come after your paycheck through garnishment (even if the levy is removed) Levy is a step, garnishment follows.
Why would a bank put a court levy on your account?
A court levy is actually put in place by a court, the bank is required by law to comply with the court. The reason the court may have put a levy on your account is usually due to an unpaid debt. I would contact your bank and try to find out the details. In most places, the bank is required to provide notification of a levy, but not until after the levy action has taken place.
How long does a bank levy last in the state of Tennessee?
It's a one time rape of your bank account. Whatever funds are holding when the bank levy hits, up to the judgment amount, will be deducted from your account and sent to the court. If they issue another levy, same thing will happen again each time the levy is issued.
Can a creditor levy you bank account if you live in Florida?
They just did it on mine!
