My husband just received a notice of levy from the IRS for back taxes
due for 2008. We have filed our tax returns
separately for the past 4-5 years or so. It is for a year when he filed an individual tax return. He has not worked steadily for quite a few years, and the debt is due to a large withdrawal he took from a retirement plan. My son and I both work full time and pay the household bills.
I have removed his name from all my accounts since he began showing signs of financial irresponsibility about 6-7 years ago. We maintain separate bank accounts, with the exception of a joint checking at bank “A” in which we always keep just $30. He has an individual checking at bank “B” and I have my own individual account at bank “A”. My two sons also each maintain accounts at bank “A”, on which I am a joint owner. My husband is not on either of their accounts.
We live in Ohio and own our home outright. Ours is an Estate by the Entiretees deed.
I have three questions:
• The levy refers only to attaching an account at bank “A” and references my husband’s social security number. There is no mention of bank “B” whee he maintains his individual account. Since he is only a party to the joint checking in which we keep $30.00, is that the only account at that bank they can attach? I am worried that there might be some confusion and that my individual accounts and those held jointly with my sons will be impacted.
• Should I take the levy notice to my bank and discuss my concerns with them to make sure that my individual accounts and my son’s accounts are not attached?
• Finally, are we in danger of having our house attached and perhaps being forced to sell it?
Please let me know if you need further information.