FORM 668A

Form 668A, Notice of Levy on Certain Financial Accounts, is a legal document issued by the Internal Revenue Service (IRS) to a third party, such as a bank or credit union, informing them that they must seize funds from the taxpayer’s account to satisfy a delinquent tax debt. The IRS issues Form 668A when a taxpayer has not paid their taxes after receiving multiple notices and demands for payment. The levy allows the IRS to collect the taxpayer’s debt directly from their financial institution.

• Unpaid income taxes
• Unpaid employment taxes
• Unpaid excise taxes
• Unpaid estate taxes
• Unpaid gift taxes

What happens after the IRS issues Form 668A:

• The third party receiving Form 668A is required to freeze the taxpayer’s account and send the IRS any funds up to the amount of the tax debt. The third party is also required to notify the taxpayer of the levy.

• Taxpayers who receive Form 668A should contact the IRS immediately to discuss their payment options. The IRS may be willing to work out a payment plan or other arrangement to help the taxpayer satisfy their tax debt.

• The best way to avoid receiving Form 668A is to pay their taxes on time and in full. If taxpayers are unable to pay their taxes in full, they should contact the IRS to discuss their options. The IRS may be willing to work out a payment plan or other arrangement to help the taxpayer avoid having their wages or bank account levied.