Steven J. Fromm | Steven J. Fromm & Associates, P.C.
Although you do not mention the state, most states can and do levy on bank accounts for delinquent taxes. It is very effective and gets the taxpayer's attention as you can well attest. However, the states usually do not levy corporate accounts for individual taxes. However, states may garnish your wages that you are receiving from the S corporation. Garnishment is technically different than levy but the results may be the same. You really need to meet with a tax/corporate attorney immediately to explore your legal options.
Answer Applies to: Pennsylvania