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Home / Opinion Digests / Bankruptcy – IRS Prepetition Levy – Business Earnings – No Turnover (access required)

Bankruptcy – IRS Prepetition Levy – Business Earnings – No Turnover (access required)

A prepetition notice of levy served on debtor's employer by the Internal Revenue Service immediately divested debtor of all legal and equitable interests in his earned commissions; and, after employer paid debtor's commissions to the IRS, the IRS is not required to turnover such funds as property of the estate because the tax debt exceeded ...