can the IRS attach funds in a Paypal account?

[mexicorobin]

I don't see anywhere in Paypal that this questions is addressed. I heard, a few years ago, that  money is "safe" in Paypal. Safe from big brother taking  money with no warning.

Summary:

Does the IRS or any courts (judgements) have access to someones Paypal balance/money?

How secure is it REALLY?

Is there is limit on how much you can have? Can a person store $1,000,000 in Paypal?

Is it true if that million dollar person only has access to $1,000 per month to withdraw?

How is it withdrawn? Don't they need a "bank" to send it to? That doesnt make sense, is there an ATM card?

I have been asked these questions, I don't have a million dollars, and I am not a money launderer FYI.

Thanks

[snowshoe · Accepted solution]

Suggest checking out the User Agreement:

https://www.paypal.com/webapps/mpp/ua/useragreement-full?locale.x=en-US

Note Sections:

10.3 Actions by PayPal - Restricted Activities

10.4 Actions by PayPal - Court Orders or Other Legal Process.

10.5 Actions by PayPal - Holds.

10.6 Actions by PayPal - Reserves.

10.7 Actions by PayPal - Account Closure, Termination of Service, Limited Account Access; Confidential Criteria.

As for the amount of funds you can maintain in your account, no limit.  Also no limit for withdraws to your bank account assuming it's a checking account.  Savings accounts are regulated differently by law.

The only limit on a verified account is the size of the individual transaction which is $10,000.00.    For example, if you sold a $20,000.00 item, the customer would have to make two separate payments of $10,000.00 each.

[mexicorobin]

thanks, was very helpful, now i can tell people what the rules are. i am learning in my real estate class about money laundering laws, and i think this question will come up so i have an answer. thanks again