Florida Statute section 222.21 protects IRAs and qualified retirement plans from most creditors. Here is the part most people miss: it does not bind the IRS. Internal Revenue Code section 6334(c) says no property is exempt from a federal tax levy unless section 6334(a) lists it, and retirement accounts are not on that list. Federal tax levies also override the anti-alienation rules that protect 401(k) plans (Treas. Reg. 1.401(a)-13(b)(2)).
What protects retirees in practice is the IRS's own manual. Under IRM 5.11.6.3, a revenue officer must consider other ways to collect, must find flagrant conduct, and must consider whether you depend on the account for living expenses before levying a retirement account, and a senior manager must approve. Read Can the IRS levy your IRA in Florida? for the full breakdown.
Retirement accounts do count in an offer in compromise or installment agreement analysis, generally at their value after the taxes and penalties you would owe to cash them out. If you are retired and drawing on the account to live, the IRS may treat the distributions as income instead. See offers in compromise for retirees and whether to cash out an IRA to pay the IRS.
If you have retirement accounts and IRS debt, call (813) 229-7100 before you withdraw anything.
General information, not legal advice. Reading this page does not create an attorney-client relationship. Tax rules and dollar thresholds change; confirm the current figures for your tax year before acting.