Lawrence T. Ullmann, Attorney At Law

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10/19/2026

Bank levies most often involve checking accounts, based on common experience. If the frozen funds earn interest while they are being held, it is generally expected that the interest related to those funds would be included when the money is sent to the IRS. The exact outcome may depend on the specific circumstances and account terms.

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10/19/2026

When the IRS issues a bank levy, it sends a legal notice to the financial institution directing it to freeze the funds in the account. The bank must follow that order by law and cannot decide whether to honor the levy. This process can affect one or multiple accounts if money is available to satisfy the tax debt.

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10/18/2026

An IRS levy is one of the most serious collection actions because it allows the government to seize assets such as money held in a bank account. Before this can happen, the tax must first be officially assessed, and the taxpayer is typically sent multiple notices requesting payment. As those notices become more urgent, the risk of a levy increases if the balance remains unpaid.

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10/18/2026

An IRS levy can reach more than just a personal checking account. Depending on the situation, it may apply to retirement accounts, joint accounts, and certain business accounts connected to the taxpayer. Because the rules can be complex, it is important to understand how different types of accounts may be affected before taking action.

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10/17/2026

Many taxpayers do not realize a bank levy has been placed on their account until checks are returned or a debit card stops working. By that time, several days may have already passed, leaving less time to respond before the frozen funds are sent to the IRS. Acting quickly after discovering a levy can make a significant difference in resolving the situation.

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10/17/2026

A bank levy may sometimes affect an account that actually belongs to a child if a parent's Social Security number is listed because the child is a minor. When it can be shown that the money belongs to the child and not the taxpayer, the IRS may agree to release the levy and unfreeze the account before the funds are transferred.

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10/16/2026

After a bank account is frozen, there is a 21 day period when the taxpayer may contact the IRS to try to resolve the issue before the funds are sent to the government. This may include filing overdue tax returns, explaining financial hardship, or working toward another solution. If no agreement is reached, the bank is generally required to send the frozen funds to the IRS when the holding period ends.

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Retirement accounts are not always protected from IRS collection actions. Lawrence Ullmann explains that certain retirem...
10/15/2026

Retirement accounts are not always protected from IRS collection actions. Lawrence Ullmann explains that certain retirement funds may also be reached by the IRS.

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https://bio.link/lawrenceullmann

10/15/2026

An IRS levy can potentially affect more than one account, including certain retirement accounts, joint accounts, and business accounts controlled by the taxpayer. The rules can become especially complicated when other people share ownership or funds are held for different purposes. Because the time to respond can pass quickly, understanding the available options is critical.

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https://bio.link/lawrenceullmann

Waiting after an IRS bank levy can make a difficult situation even harder. Lawrence Ullmann explains why the 21 day hold...
10/14/2026

Waiting after an IRS bank levy can make a difficult situation even harder. Lawrence Ullmann explains why the 21 day holding period can be critical for resolving the issue.

Click the bio link to listen to the full episode.
https://bio.link/lawrenceullmann

Address

1990 N. California Boulevard Suite 750
Walnut Creek, CA
94596

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

(925)7466600

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