IRS levied my business Paypal merchant account. The EIN number is registered to the business and is what Paypal uses to report income to IRS, though my personal SSN is also on the account. IRS sent Notice of Levy to Paypal and Paypal froze acct and removed funds. IRS Section 408(n) states they cannot send payment to IRS for 21 days. I called IRS, make arrangements and Paypal has reinstated account, but not released the funds and won't provide any info.
Paypal claims to be a money transfer service/merchant processor. How can IRS levy Paypal if Paypal claims not to be a bank account? Can IRS levy any credit card processor? How can I get info from Paypal when my funds will be redeposited to account?I should clarify, IRS issued notice of levy on Paypal business account for my personal tax, though the account is registered to the business with the business EIN.