Levy and Distraint

ID: CCA_2011031108283850 Number: 201115022
Release Date: 4/15/2011
Office: ---
UILC: 6331.00-00
From: ---
Sent: Friday, March 11, 2011 8:28:44 AM
To: ---
Cc: ---
Subject: RE: Hotline Calls--2011 OVDI
For purposes of determining ability to pay, ownership is presumed to be in equal shares unless the taxpayer demonstrates otherwise. See IRM 5.8.5.5. In the levy context, the Supreme Court held in the National Bank of Commerce case that where under state law the taxpayer has the unrestricted right to withdraw funds from a jointly held account a levy attaches to the entire account. The levy, however, is provisional and subject to a later claim by a codepositor that the money in fact belongs to him or her.