I have worked out a payment plan w/ them and have payee them faithfully each month
It depends on whether or not you have a lien filed against you. Even if you do and you need the money for necessary living expenses you may be able to keep some or all of the money.
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It is unlikely that the IRS will seize the money before you receive the funds from the retirement plan. However, it is possible that the IRS has a lien on it and has given notice to the retirement plan. Ms. Campbell has given good advice.
If you have a payment plan in place the IRS normally releases other levies/claims/garnishments once you enter into the payment plan. As long as you continue to pay the IRS typically would not try to go after your assets. Key, ***make your payments under the plan and do not default. If so, likely smooth sailing for you.
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