Kulzer & DiPadova, P.A.
76 E. Euclid Avenue, Suite 300
Haddonfield, New Jersey 08033-2342

P: 856.795.7744
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News, Articles & Resources

Category: Tax Collections and Levies

Tax Court reminder – IRS levies on IRA accounts are taxable

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  The United States Tax Court recently issued a Memorandum opinion reminding taxpayers that when the Internal Revenue Service (IRS) seizes an Individual Retirement Account (IRA), the seized IRA needs to be included as taxable income.  Lonnie Wayne Hubbard v. Commissioner of Internal Revenue (T.C. Memo. 2024-16). In 2017, disgraced…

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