Can the IRS levy a joint bank account?

Yes. If you are listed as an account holder on a joint account, the IRS can levy that account for your individual tax debt. This means funds belonging to a spouse or co-owner can be frozen and seized if you share an account. Your co-account holder may be able to request a return of their portion of the funds, but this process requires documentation and is not guaranteed.

What happens to money deposited after the bank levy?

A bank levy only captures funds in the account at the moment the bank receives the levy notice. Money deposited after that date is not subject to the same levy. However, the IRS can issue a new levy at any time if the debt remains unpaid, which would again freeze whatever balance exists at that moment.

What bank account funds are protected from IRS levy?

Most bank account funds are not automatically exempt from an IRS bank levy. However, certain funds are protected by law: unemployment benefits, certain disability payments, child support payments received, and most public assistance benefits. Regular income deposited into an account — including wages and Social Security — can generally be levied once it is in the bank account.