Can the IRS Take Money From My 401(k)?
Yes, the IRS can levy or garnish money from your 401(k) retirement account. The IRS can issue IRS Form 668(A) Notice to Levy to your 401(k) plan administrator instructing them to seize the fund from your retirement account up to the amount of tax debt you owe the IRS.
If you have a 401(k), SEP IRA, Keogh plan, or other IRA and you owe back taxes, let Morris and Associates resolve your tax issues. The regulations around 401(k) accounts are complicated, and each taxpayer’s situation is unique. Our accountants and Enrolled Agents can help you resolve your tax issues.
Contact Morris and Associates today for a FREE consultation.