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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 42247
Experience:  Texas lawyer for 30 years in Estate law
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My daughter has a 529 college Delaware college plan. In the

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My daughter has a 529 college Delaware college plan. In the past few years, my husband has been laid off several times from start-up jobs that couldn't get the funding. Can the IRS put a levy on her 529? My husband is the custodian of the account. I have read that if the money that's in the account was accumulated before our tax problems started, the IRS cannot put a levy on it.

Thanks for your question and good evening.My sympathy here for your dilemma.The College Savings Account (529)is not include in the list of property exempt from levy.

For a complete list of property exempt from IRS levy, see the applicable federal law:

I wish I could give you better news but the IRS can levy on this for taxes owed.You may be able to work out repayment or otherwise resolve it but if necessary the IRS cane levy on this for a delinquency.Again I wish I could tell you otherwise.

Second reference

It has been my pleasure to assist you tonight.I appreciate the chance to provide you the information you asked for.Thanks again.

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