Once your financial institution receives a form 668A, you should realize that the IRS is attempting to seize the full amount that you owe them. The levy is charged against your bank account or other sources. It is possible for you to obtain a payment plan and have the levy lifted. I suggest that you seek to hire professional representative, such as a CPA, for this purpose. We have helped many tax payers when their money was levied via a the form 668A. With our knowledge and experience, we usually can stop a levy from actually happening. The financial institution has 21 days before they have to send the money to the IRS.
It's Important to note that an IRS Notice of Levy is not an actual levy. There is no court order involved. That is probably why I have not heard of the IRS taking actions against financial institutions, and employers when they get a 668W. Many banks and employers go overboard in pleasing the IRS out of their own fear.
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