How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lane Your Own Question
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 11585
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
1929974
Type Your Social Security Question Here...
Lane is online now
A new question is answered every 9 seconds

My wife and I both have levies from the irs on our SS funds,

Customer Question

My wife and I both have levies from the irs on our SS funds
JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.
Customer: Where can I get copies of these Tax Levies.Right now they take 15% but the IRS Collections people tell me tht they can take all of it. Is that correct?
JA: Is there anything else the Retirement Accountant should be aware of?
Customer: Not that I know of
Submitted: 10 days ago.
Category: Social Security
Expert:  Lane replied 10 days ago.

Hi. My name's. Lane. They cannot.

...

They cannot take 100%. They CAN, however, take more than 15%.

...

The program that takes 15% is the Federal Payment Levy Program (FPLP).

...

That's an automated (flip of a switch, if you will) program.

...

You can read more about that here: https://www.irs.gov/individuals/social-security-benefits-eligible-for-the-federal-payment-levy-program

...

Bear with me a moment and I'll pull up the regs

Expert:  Lane replied 10 days ago.

What they are likely telling you is the following:

...

If you owe non-tax debts to other agencies, the first $750 of your monthly Social Security payment is off-limits to garnishment. But the IRS is different and can take its 15 percent cut, regardless of how little money you’re left with. Lump-sum death benefits and Social Security benefits paid to children are not subject to this levy.

Expert:  Lane replied 10 days ago.

They could also be referencing other types of federal debt:

...

Delinquent child support and alimony cases are processed through the national Court Ordered Garnishment System. In these situations, the maximum reduction to your benefits depends on the state where you live. The garnishment is limited to either the maximum allowed under state law or the maximum under the Consumer Credit Protection Act, or CCPA, whichever is less.

Per the CCPA, you can theoretically lose:

  • Up to half your benefits if you are supporting a child or spouse in addition to the one involved in the court order.
  • 60 percent if you’re not supporting another child or spouse.
  • Up to 65 percent if the original court-ordered support is more than 12 weeks in arrears.
Expert:  Lane replied 10 days ago.

But for tax debt, specifically, it IS only 15%.

...

Please let me know if you have ANY questions at all, before rating me.

I hope you’ll rate me (using those stars, or faces on your screen, by clicking submit) based on thoroughness and accuracy, rather than any good news / bad news content.

Otherwise I’ll receive no compensation at all, from JustAnswer.

Thank you!

Lane

..

I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice to clients on three continents since 1986.