Can a tax levy from the state revenue department be placed on my IRA account?
IRA accounts are not protected in most cases. Federal tax levies can be attached as well as collections of child support payments. In the case of the former, however, the penalty for early encashment is waived by the IRS. IRAs are treated differently than qualified retirement plans. While I believe your state could also attach this, qualified legal counsel is the best one to ask as they may also be able to negotiate a settlement between yourself and the taxing authority.
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