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Category: Tax
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Experience:  CPA with tax experience.
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can the massacusetts department of revenue levy an ira account

Resolved Question:

can the massacusetts department of revenue levy an ira account or a brokerage account for taxes? I have filed an abatement but have not heard from them.
Submitted: 6 years ago.
Category: Tax
Expert:  JKCPA replied 6 years ago.

Hello Customer,


Thanks for your question.


Yes, like federal taxes, levies can be placed on IRA's or brokerage accounts for state taxes. If you filed for a tax abatement and have not heard from the MA DOR within 6 to 8 weeks, you should call them to ask about the status of your filing. In order to avoid tax levies, if you cannot pay the entire balance owed, it is best to request an installment payment plan so that levies will not be placed.


Best regards,


Edited by JK_CPA on 10/3/2010 at 11:47 PM EST
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