IRS Will No Longer Levy SSA Disability Insurance Payments

October 19, 2015

(Five Minute Tax Briefing, Thompson Reuters; Published October 2016)

The IRS can levy property owned by taxpayers who owe back taxes [IRC Sec. 6331(a) ]. Furthermore, under IRC Sec. 6331(h)(1) , with regards to certain specified payments, including SSA disability insurance payments, the IRS can levy (withhold) up to 15% of the payment each month until the debt is paid. Nevertheless, in a memo to its Collection staff, the IRS’s Small Business/Self-Employed (SB/SE) Division announced a new policy decision under which it will no longer levy SSA disability insurance payments beginning with payments payable after 10/3/15.

Share
 
Our Location

Our Location

BiggsKofford
630 Southpointe Ct, #200
Colorado Springs, CO 80906

P: (719) 579-9090 | F: (719) 576-0126
info@biggskofford.com

Read More