Can the California franchise tax board levy on out of state property or bank account?
Yes, but the FTB would need to go through a judicial process designed to gain the target state's bank. If it were a bank in, say Nevada, and it was a Nevada corporate account, that would take quite a while for the FTB if they could do it at all.
Added: If the bank in question was a branch of a bank operating in CA the court could serve the lien papers on the bank's registered agent in the state of California.
Added: If the bank in question was a branch of a bank operating in CA the court could serve the lien papers on the bank's registered agent in the state of California.
3 people found this useful
If your bank account was mistakenly levied for not filing tax papers properly and now there is a judgment on your account how do you remove it?
Answer . \nYou need to get a copy that ALL TAXES have been paid from the IRS or if in Canada, Revenue Canada and take a copy of this document for the banking institution (but take in the original as well) to the banking institution and show them the proof. Sit there until they have completely ab…solved this mistake on your account. ( Full Answer )
Answer . \nIf the creditor wins a lawsuit and receives a judgment the judgment can possibly be used as a bank account levy.\n. \nThis would depend upon state laws relating to how the bank account is established.
Can a judgment creditor levy a bank account if there is already a tax lien on the debtor's property?
Answer . \nYes.\n. \nThe law in all US states does not allow multiple judgment actions by a single creditor but it does allow consecutive acts of judgment by multiple judgment creditors.\n. \nFor example a wage garnishment or bank account levy is possible by one creditor, seizure and sale of n…on exempt property by a different judgment creditor, and so forth, however, one creditor cannot execute a judgment by using concurrent methods .\n. \nLiens are the exception, there can be multiple liens against real property at the same time, with the liens being prioritized according to the date they were filed.\n. \nJoint bank accounts in the majority of US states are subject to levy by a creditor judgment. The exception being a few states that allow a bank account to be held by a married couple as Tenancy By The Entirety where only one spouse is the debtor. ( Full Answer )
\n. \n Answer \n. \nProbably not. The idea is to get to the account while you have money in it. If they give you notice you'll just transfer the money out.\n. \n . \n . \nMost banks will notify the account holder(s) after the action.\n. \nOn joint accounts where only on holder is the jud…gment debtor, the account is generally frozen, and the non debtor account holder must submit proof to the court of the amount of funds belonging to them. The exception is a married couple residing in a community property state.\n. \nWhen the order has been served, the account cannot be transferred, closed or in any way altered until a decision is made by the court. ( Full Answer )
In Texas can a creditor judgment for an unpaid phone bill be enforced as a wage or tax refund garnishment or a bank account levy?
Executing a Creditor Judgment . A judgment creditor can levy a bank account even if it is joint.\n. \nA judgment creditor can only garnish income if there is no other way to recover monies owed.\n. \nA judgment creditor can place a lien against real property but cannot perfect the lien as a for…ced sale of a primary residence.\n. \nA judgment creditor cannot seize a tax refund. ( Full Answer )
Answer . \nIf you are the not named on the judgment levy, you must file a petition with the court where the judgment was granted to have the confiscated funds belonging to you returned.\nThe court will require proof of what portion of the funds in the account were yours. If the account was held …jointly by a married couple in a community property state the total amount of the account if not considered exempt (SS benefits, public assistance, private pensions and disability benefits) is subject to seizure by the judgment creditor even when only one spouse is the judgment debtor. ( Full Answer )
Answer . \nA bank account levy is one method for a judgment creditor to recover monies owed for a debt.\n. \nThe judgment holder files the writ of judgment with the clerk of the court where the judgment was entered against the judgment debtor as bank account levy. I\n. \nIf the judgment is al…lowed to be executed, the sheriff will serve the writ for levy (garnishment) of the debtor's account on the bank where the account is held. The bank can either honor the writ and release the funds up to the maximum of the judgment or request the court to "freeze" the account and decide whether or not the judgment writ is valid.\n. \nWhen an account is joint and only one account holder is the judgment debtor, the bank will usually request the account to be frozen. It then becomes the responsibility of the non debtor account holder to provide documentation to the court proving the amount of funds belonging to them. ( Full Answer )
Answer . If you owe the money, and the lender goes thru all the channels to collect, then yes a bank account can be levied.
First of all...I'm not sure why you would think they couldn't? You apparently understand there is a process called Levy that can be done against your account. Whom do you think that process is expected to be used by...and to do what? Maybe collect a debt? And they are an agency doing what...collecti…ng debts. Now, they certainly would rather have you pay, without having to go through the time, expense and trouble to levy an account. To levy your account there may be certain process they would have to do first, and be able to prove your debt, etc. But, the Law, the courts, their kids, their school, their grandparents and their doctor, even their Church, etc., etc., everyone they need or want to pay really wants them to be able to collect what they are owed. But, first off: Did you bother reading whatever agreement they are collecting on that you didn't bother following? (Understand, paying is following...not paying isn't following. Your the one that did wrong). if a right is needed, see if you gave them the right to do so in that agreement....what do you think....the guys writing the contract blank smart enough to put it in, even if it isn't always needed...along with some general language to make sure they can collect? If you have the money to pay on the debt in the account...why don't you do so? ( Full Answer )
Answer . You can open another account any place you want. it doesn't mean it too won't be garnished.
Of course.. Why would you possibly even question that the Federal government couldn't do something anywhere in the country? Especially something anyone can do?. The IRS can levy a bank account anywhere within the US.
the state of california franchise has levyed my bank account and safe deposit can that re referred
The state of California can perform this action if needed. However,the state can only do so within its state borders.Ã
That California is a community property state, so if the account in question is anything other than very specifically maintained as "sole & seperate" property...it's essentially all his and yours by law, you've got a problem.
Your bank account can be levied as often as the creditor would like, so long as the sum of all the levies is equal to or less than the judgment. Please keep in mind they can use the levying officer, which charges a lower fee, or a process server. Each time they levy the account, the processing fees …are deducted first, then the interest, and then the rest goes to the principal. They can levy whenever they want. If they know when you get paid, they will most likely have the account levied on those days and you will not be able to access the funds unless you can prove it's some form of disability payment, retirement account, or a few other exempt forms of pay.. My recommendation is to live off of cash and money orders until you've settled the debt. This will show up on your credit report and you will be considered a major risk until this debt is settled. After they levy your bank accounts, they might have your wages garnished. If they garnish your wages, they can levy your bank account in addition to the garnishment. It's your responsibility to pay the creditor. You may not have all the money at the moment, but you can work out a payment plan through the court. You should get in contact with the creditor and work something out.. I am not a lawyer and only know about this because I'm in the process of collecting a debt from somebody. I am using both methods because the person refuses to pay and this is the only way I will be able to get the money from the person. Your judgment is valid in all 50 states. If the creditor is levying your accounts, it is most likely they will follow you wherever you go. Whatever costs are incurred by tracking you, these will be added to the judgment. So just pay your debt and you won't have to worry about it.. Your bank account can be levied as often as the creditor would like, so long as the sum of all the levies is equal to or less than the judgment. Please keep in mind they can use the levying officer, which charges a lower fee, or a process server. Each time they levy the account, the processing fees are deducted first, then the interest, and then the rest goes to the principal. They can levy whenever they want. If they know when you get paid, they will most likely have the account levied on those days and you will not be able to access the funds unless you can prove it's some form of disability payment, retirement account, or a few other exempt forms of pay.. My recommendation is to live off of cash and money orders until you've settled the debt. This will show up on your credit report and you will be considered a major risk until this debt is settled. After they levy your bank accounts, they might have your wages garnished. If they garnish your wages, they can levy your bank account in addition to the garnishment. It's your responsibility to pay the creditor. You may not have all the money at the moment, but you can work out a payment plan through the court. You should get in contact with the creditor and work something out.. I am not a lawyer and only know about this because I'm in the process of collecting a debt from somebody. I am using both methods because the person refuses to pay and this is the only way I will be able to get the money from the person. Your judgment is valid in all 50 states. If the creditor is levying your accounts, it is most likely they will follow you wherever you go. Whatever costs are incurred by tracking you, these will be added to the judgment. So just pay your debt and you won't have to worry about it. ( Full Answer )
Any creditor can levy your bank account if you default on the credit agreement and they go through the right legal motions. Student loans do not have any special privileges in this area, unlike with wages and tax refunds.
A bank account can be levied as often as necessary. This will makesure that debts are paid off by the debtor.
That depends upon the laws of the state where you reside or where the bank account is. Normally, when a levy is placed on a bank account, the account is frozen and the account owner is given a certain amount of time to go to court to prove that the levy should not have been placed on the account. Th…e money in the account will not be turned over to anyone until the court orders it. If the account owner fails to make an objection in court within the stated time period, the bank is allowed to assume that the owner has no objection and turn the account funds over to the creditor. ( Full Answer )
An attorney can get a court order to levy your bank account or your wages.
A levy or lien is placed on someone's property or bank account by acreditor. When a levy is placed on an account the amount the levyis for is taken out of the bank account.
Let me rephrase your question so that you can be sure my answer actually addresses what you want to know: "Must I pay taxes in the State of California on disability claim checks I receive from the California State Disability Insurance (CA SDI) program?" In reference to CA SDI claim checks, no the… amount you receive is not taxable, with only one exception: a person with a disability who is unemployed and would otherwise be eligible for CA State Unemployment Insurance (CA UI) benefits but whose circumstances/CA SDI rules allow them to defer filing for CA UI and instead file for CA SDI (which has a higher cap on benefit payments relative to UI so one would end up getting more money on SDI) must pay taxes on CA SDI payouts received. If you're not unemployed, meaning once you recover from your disability you have the legal right to return to your job, then the State of California will not tax your disability claim checks. If you become unemployed while receiving disability from the State (your employer can legally separate you from employment even while disabled if your position was part of a company downsizing at anytime and also after the period defined for State Medical Leave has passed, I don't know the length of that period you'd have to research it) your tax status may change and I can't find any definitive answers about what happens then. You'd likely have to call either the FTB or the CA SDI directly to ask. Source: http://www.edd.ca.gov/Disability/FAQs_for_Disability_Insurance.htm#Benefits The rationale behind the non-taxability of CA SDI claims simply relates to the concept of dual-taxation, meaning law prohibits you from being taxed twice on something. And if you look at your pay stub, you'll see there's a CA SDI tax line item in most instances. So you've actually already paid your tax. That's why I always encourage people who are going to be out of work for more than a month due to documented injury, illness or other disability, to file for SDI because you're entitled to it, you've paid for it, you should use it. Not all HR departments proactively mention SDI to employees leaving on disability - they are not legally bound to do so - which sucks. Note: This information applies only to those disability claim checks issued by the CA State Disability Insurance program. Private insurance disability claim checks ARE taxable. ( Full Answer )
If you have been notified that your bank account is going to belevied, the only way to avoid that is to either close the accountor take your name off the account. You can also keep the accountopen and just never put any money into that account.
Yes, in Pennsylvania, a joint back account can be levied. This isusually called a levying of bank accounts or garnishing wages.
Yes, Texas allows a judgment creditor to execute a bank account levy, even if the account is jointly held.
You are trustee for your daughter's bank account the account name reads my name as trustee for daughter's name can IRS levy it for taxes you owe?
Probably not...however if they can show the funds in it were actually yours...then of course...and then the problems with commingling money as a trustee will start. That involves actual law inforcement, not the IRS.
You pay the underlying assessment. If they already went to levy an account, you may even be past the time you can protest. If you ignore them long enough...THEY DO NOT go away! ------- In my case, I didnt. They took all the money out of 2 of my accounts. I contacted them and am working to file m…y back taxes. My CPA says after I do so, I will get a refund of the excess. A levy is a 1 time thing. They did it to my account and I have since put money back in the account and they dont automatically get it unless they happen to do another levy. And they probably wont because I am not running from them anymore ! LOL ( Full Answer )
Real also known as direct tax --- Property taxes in most states in the United States are levied on real property (land and improvements to land, like structures) and personal property (non-real estate, like business equipment or automobiles). Certain types of property, or the owners of such prope…rty, may qualify for assessment and/or tax abatements, deferrals, or exemptions. ( Full Answer )
Check your bank balance online (if you have online access) or by phone (if you have bank-by-phone service) or call your bank and ask.
Will the IRS levy my mother's bank account for my taxes if my name is on the account for inheretence purposes?
It sounds like your mother has an account with an "in trust for" phrase on the name of the account. She intends for you to inherit the money without that money having to go through the probate court. At least that is how it works in this particular state. Normally, the IRS does not touch that type o…f account. However, if you owe back taxes and the account contains any money when she dies, they will take it before you get it. ( Full Answer )
In Colorado it is possible for a debt collector to levy a bankaccount. It is necessary for the approval from a court in order fora debt collector to place a levy on the bank account.
Type your answer here... how long will it take for my bank to lift the lien they have on my bank account: First, a tax lien is different from a tax levy. Generally, a bank levy is not released until: . your tax debts is paid in full . you settle a payment plan for your tax debt . you can …prove that the tax levy will bring you and your family a financial hardship . the taxing authorities made some mistakes of the levy and your appealing is approved by the committee You may have other ways to release the bank levy, but it really depends on your tax debt status and your financial situation. ( Full Answer )
Can a bank account held soley by the non debtor spouse be levied for the debtor spouses debts if the couple reside in a non community property state?
If it can be proven that the debtor has funds going into the non debtors account then the amounts that are going into the non-debtors account that originally were funds belonging to the debtor can be levied.
Can the state of New York put a lien on bank accounts and on your property in Florida where you currently live alleging that you owe state income tax for the year 1976?
Any question that starts out, "Can a government..." and involves the word "tax", well, the answer is always "Yes." The only way they cannot is if you prove that you do not owe that tax. Yes, yes, I know, you are supposed to be innocent until proven guilty in a court of law, and you never had a he…aring. I'm afraid we're a long way from 1791, and you'll find that doesn't apply. You need to either pay it, or prove you don't owe it. Consulting with an attorney will be of great help here. --------------------------- ADDITIONAL: With regards to NY state putting a lien "on your property in Florida....." If the FL property is your legal residence and you are 'homesteaded,' your personal residence is protected from seizure or foreclosure. If it is NOT, then your property could be in jeapordy. See the advice contained in the first answer. (A good point, the lien may be placed, but a sale can't be compelled in that situation. And without a sale, the lien is unfulfilled.) ( Full Answer )
You are in Missouri your wifes bank account has been levied your state refund and federal refund went in during the levy you know they will get some of the money but the tax returns are in both names.?
So I assume, that your saying that you filed a joint tax return and the refund hit your wife's individual account. Could be a tricky one, for starters you will need to file a motion with the courts to challenge the levy and explain your story, and you have a "chance" to get your money released from …the hold. However, if your wife was the primary filer and the IRS sent the money just in her name then you might not win the argument. ( Full Answer )
In most instances the entire amount of the account is subject to levy. The exception is if the account is jointly held and only one of the account holders is the judgment debtor.
if there are no funds in the account they cant take anything. i know because i had the same problem. you actually have some rights when it comes to levies on your account. if you receive any form of government assistance or disability they cant touch it. you also have a 10 day grace period from the …time money is deposited to the time it can be levied. ( Full Answer )
Yes, if the creditor has first obtained a judgment against one of the joint owners. However, the creditor cannot take the money in the account without a court order. In order to get the court order, he has to give notice of the levy to both persons who then have the right to object to the turn-over …of the funds to the creditor. One obvious objection is that even though the account is in joint names, the money in the account actually belongs to the non-debtor party and should not be taken by a creditor of the debtor party. A joint account does not necessarily signify joint ownership of the funds in the account. It really means that both joint owners have equal access to those funds and the bank will honor checks drawn or withdrawals made by either of them. ( Full Answer )
In general a bank account is subject to judgment levy every 30 days until the debt is paid. The judgment creditor must renew/refile the bank levy each time before it can be implemented. A bank account levy can allow the judgment holder to remove the total amount owed at one time. If the account bala…nce does not hold enough funds to pay the entire amount the judgment holder in most instances can still remove the entire balance of the account. Please consult the laws of the state of residency or where the account is held for specific information. Some states only allow a one time levy where the judgment cannot be renewed and the creditor has to repeat the civil suit process. Likewise, jointly held accounts are treated differently when it relates to judgment levies than single accounts. ( Full Answer )
A creditor can only levy your bank account by getting a judgment against you. To do that, they must sue you. And they must win in court. If you are sued by a creditor, be sure to show up for court to prevent this from happening.
I do not believe that states all have the same taxes since they each have the power to determine which taxes they will have at the state level, on top of those at the federal level too.
No they cannot. They are one of 14 States that cannot levy for State taxes. Federal, yes.
Can the California ftb levy a joint account in another state.i have a tax bill from california. i am now in Texas and married and have a joint account at a credit union where my husband is the member?
They can and will whether legal or illegal. Are you a billionair? you will loose. Laws do not apply to governement!...
The bank should notify the account holder that the account has been levied by a judgment holder. Also, the account holder/judgment debtor should have received a final notice of judgment citing the action the judgment creditor is taking.
A judgment creditor might be able to levy against a joint account where only one account holder is the debtor. It really depends how the bank account is held and the state laws pertaining to such. One example, joint marital bank accounts held in community property states are subject to levy even if …only one spouse is the named debtor. ( Full Answer )
Can the California franchise tax board collect on taxes from 1989 when I'm now living in florida and receiving a bill now in 2012?
I think they can. You could live on the moon and they would get taxes from you. Did you earn the income in CA and not file your taxes because you were in Florida ? If you did that I think they can collect the taxes. Check with a tax attorney that knows CA taxes. Usually, they only go back 5 years an…d 1989 is further back than that. The state needs money and it wouldn't surprise me if they sent a tax bill to someone who is dead. ( Full Answer )
Joint accounts which are not held as TBE (a manner only available to married couples in certain states) are subject to levy by the IRS and other creditors.. The non debtor account holder must provide the court and levying agency proof of the percentage of funds belonging to them. In most instances… the bank account will be "frozen" until the court rules on the motion. ( Full Answer )
The IRS can issue a tax levy against property. A tax levy against a property is to claim back any tax owed to the IRS. The money made from the property will go towards the debt owed.
The California Franchise Tax Board website contains information relating to personal and corporate income tax in California. It offers filing information, tax rates, the ability to pay online, tax calculators and the ability to download various tax forms.
The IRS would levy a bank account if the bank account holder had not paid his or her taxes. However, the IRS wouldn't do this unless they had exhausted all other means to collect. They would first send the taxpayer a notice that taxes had been assessed and demand payment. It the taxpayer ignored …this notice the IRS would send another notice letting the taxpayer know it was their intention to levy his or her bank account, or other property. This would be sent 30 days before they actually levied the account. Don't ignore letters from the IRS!! ( Full Answer )
A franchise tax is a government tax charged byindividual U.S. states to corporations, limited liability companiesand partnerships that have nexus in the state. The franchise feesare based on the net worth or capital held by the entity. Inessence, the franchise tax charges corporations for the privil…egeof doing business in that state. In the state of California, franchise taxesare known as LLC taxes, and they have a minimum tax amount of $800.The franchise tax in California applies to limited liabilitycompanies, S corporations, limited partnerships, traditionalcorporations, and limited liability partnerships. In general the S corporations franchise tax in1.5 percent of the net income with a minimum tax of $800. Forstandard limited liability companies, the franchise tax is rather aflat fee than a percentage, and it varies on total income or grossincome, as follow: . Gross income from $250,000 to $499,999 = $900 fee . Gross income from $500,000 to $999,999 = $2,500 fee + $800 LLCtax . Gross income from $1,000,000 to $4,999,999 = $6,000 fee + $800LLC tax . Gross income from $5,000,000 or more + $11,790 fee + $800 LLCtax ( Full Answer )