10/18/2010
Can an IRS levy attach to the funds of a Health Savings Account?
08/09/2010
We have a customer who runs an insurance agency titled under his name,(John Doe, Agent). If he wants to open an account so that the premiums he collects on behalf of certain companies can be swept out by ACH on a regular basis, how should it be set up? He is a sole proprietor; should he have access to the funds, TIN or SSN for the account? He wants "trust account" in the title. What if he receives an IRS levy, could these funds be taken? Please let me know the appropriate way to set up this account type.
05/24/2010
Relative to an IRS Notice of Levy: our bank did not have the full amount levied on the day the IRS levy was received. Are we required to hold subsequent deposits made within the days required to hold?
05/24/2010
We just received an IRS levy for a business customer. The customer does not have the funds available in one account, however he does have available funds in an IOLTA account. Can we hold funds on an IOLTA account?
03/01/2010
Is a bank required to notify a customer that a hold is being placed on his account when a freeze, levy, or garnishment is received?
02/15/2010
Should the bank withhold funds on an UGMA if the custodians' accounts are levied by the IRS?
11/09/2009
Is it mandatory that the titling of an account for an LLC (sole member) be structured to have the individual's name on it, or can it be titled as strictly the name of the company?
08/24/2009
When a bank receives a levy on a customer, should a hold be place on the account even if the account has a zero balance?
04/02/2007
We have a customer who has an IRS levy against his deposit account, but he wants to continue presenting his payroll checks to our teller to have cashed. Are we aiding him in avoiding the levy?
03/03/2003
If the IRS levies against a customer's IRA, it is my understanding that the IRS must have the customer's authorization to take the money. Do you have a citation to a regulation or a ruling regarding this issue? I searched the IRS web site but found little.