5.9.a Levy On Accounts Receivable
| Jurisdiction | United States |
a. In general
See also ¶ 5.5(e)(6), ¶ 5.9(b), and ¶ 5.16
The IRS or other taxing entity has a duty to insure that its prepetition claim, lien or tax levy does not result in postpetition seizure of the debtor's assets and may be guilty of violating the automatic stay if the postpetition seizure occurs. Matter of Fernandez, 125 B.R. 317 (M.D. Fla. 1991).
The salient section of the IRS Manual289 is explicit on prepetition collection actions of the IRS upon notice of filing:
Levies and Insolvency. Property, whether tangible or intangible, levied upon prepetition but not transferred to the IRS prepetition is property of the...
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