Tax Levy

[hpertrain]

I have a brokerage account w/Schwab. When I went to trade and move money today I found I could not. Apparently when I 

inquired they told me I had a tax levy from the Il.Dept. of Revenue from 2020.  I have never stepped foot in the state of

Illinois let alone filed any taxes in that state??    Yes I know I can call them but is this common place?

[Seatac]

Not uncommon and unless you contact to dispute in the time frame allowed by law you Lose that money forever.

Get cracking 

[hpertrain]

Thanks!   All this just happened today.  I plan to call in the am.   Again I never filed taxes in any state other than my

own state.   Pretty scary when you say it's not uncommon!!

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@Seatac wrote:

Not uncommon and unless you contact to dispute in the time frame allowed by law you Lose that money forever.

Get cracking 

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[Seatac]

Dozens of possibilities come to mind ...sadly identity theft is the top of list.

Have you checked your credit reports for any unknown account or inquiries?

Post pandemic the government is still digging up Benefit Fraud and frequently strawman applications.  They didn't really run credit ID checks to hand out money. You might just be a fake name on a fake company ledger.

Pls let us know what happens 

[SilentTraveler]

Since this in relation to an investment account, by any chance did you ever hold any Real Estate Investment Trusts (REITs) in your account?  I had the unfortunate need to deal with multiple state tax issues when I accidentally invested in one.  After that happened I immediately sold off the REIT in my account.

[Seatac]

Good Point 

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@SilentTraveler wrote:

Since this in relation to an investment account, by any chance did you ever hold any Real Estate Investment Trusts (REITs) in your account?  I had the unfortunate need to deal with multiple state tax issues when I accidentally invested in one.  After that happened I immediately sold off the REIT in my account.

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[hpertrain]

Oh my goodness I don't really think so. I highly doubt it but this was 2020.

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@SilentTraveler wrote:

Since this in relation to an investment account, by any chance did you ever hold any Real Estate Investment Trusts (REITs) in your account?  I had the unfortunate need to deal with multiple state tax issues when I accidentally invested in one.  After that happened I immediately sold off the REIT in my account.

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[Patient957]

Good luck, and let us know what happens.  What a nightmare.

[hpertrain]

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@hpertrain wrote:

I have a brokerage account w/Schwab. When I went to trade and move money today I found I could not. Apparently when I 

inquired they told me I had a tax levy from the Il.Dept. of Revenue from 2020.  I have never stepped foot in the state of

Illinois let alone filed any taxes in that state??    Yes I know I can call them but is this common place?

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I called the Illinois Dept. of Revenue and gave them my social. They said absolutely nothing is tied to my name and social. No

surprise there!   Now they want something from Schwab showing what they received and Schwab wants proof there is nothing. 

I'd laugh if this was funny!!  Now the people at Schwab said they would have someone in their legal department call me. Still

waiting...........

[Seatac]

BOHICA Bud ! SSDD

You have apparently been caught in a Cluster-Duck vortex and you will likely be ducked through all 9 of Dantes Credit Hells.

I can promise you from personal experience Illinois has some of the worst organization and response 

AK schwab to send you a copy of the levy. Bet they won't. 

Also do two things.

Keep all email letters voicemail and date notes .

Get a voice recorder and to he'll with privacy laws recorder all conversations.  They only become "illegal" if you use them. Otherwise no one knows you made them. Lol that is not legal advice just what I would do.

Be aware Illinois is a Two Party consent state. I don't know what state you are in so......

The main value in the recordings is on making your notes accurate.

It isbin your best interest to  send yourself emails containing conversations notes each and every time you speak to anyone involved.

Phone app Ollie (sp?) Might be of use for android or ios. It transcribe meeting talk to create notes etc. I am not surevif it keeps an audio. Recording. 

BTW I am buying popcorn..your saga may get good