The IRS has the ability to garnish or legally seize any income you make to satisfy federal tax debt or taxes owed. Garnished wages can come from hourly wages, salary, commissions and/or bonuses, and the IRS will contact your employer directly to require him/her to send the them a specified portion. Your employer is required by law to comply with the garnishment, which usually can happen within one full pay period within receiving the notification, which is very fast. The IRS also has the power to garnish your wages without a court judgement, and can garnish a greater percentage of your wages than a creditor can.
Before the IRS can garnish your wages, they will mail you a notice of your tax debt that lists the amounts you owe, including the tax, penalties and interest, as well as a due date. If you do not pay the balance in full, which most clients aren’t able to, you can expect to receive a second notice, which is the final notice. If you have still not paid the full balance within 30 days of receiving this final notice, the IRS can move forward with garnishing your wages. Depending on the exemptions you claim for your tax purposes, and what the IRS deems necessary that you and your family need to pay for basic living necessities, they can take up to 70 percent or more of your income.
In order to avoid or stop a wage garnishment, you will need to get back in good standing with the IRS, which can include paying the balance in full or by agreeing to a tax payment plan or other type of resolution. You and your tax specialists may opt to enter into an installment agreement, make an Offer in Compromise, prove the monies are currently uncollectible due to financial hardship, change employers, temporarily quit your job, file bankruptcy or file a tax levy appeal. The best course of action will be what works best for you and your family, and what our tax specialists advise, with an overall goal to help you avoid wage garnishment.
Contact us today to schedule an appointment with a specialist from Creative Tax Solutions.
Get IRS wage garnishment help today and forget about your debt forever
Wage garnishment is a kind of a tax levy. It is a collection mechanism that involves seizing your income to cover your federal tax debt. The Internal Revenue Service can garnish your hourly wage, monthly salary, commissions, annual and holiday bonuses, etc. Wage garnishment process is usually very embarrassing for the debtor because the IRS contacts his or her employer directly to seize the salary or set up an agreement to send a certain portion of the debtor’s income monthly. This way, your situation is no longer a private matter but becomes a public notion. The Federal Law obliges your employer to comply with the garnishment. Moreover, the IRS doesn’t need a court ruling to seize wages, and it usually takes much more than any other creditor does. Levies are a time-sensitive issue. So if you need wage garnishment help, contact us immediately!
What is the wage garnishment process?
Don’t worry! The IRS cannot take your money without you knowing about it. First, the collectors will mail you a notice stating how much you owe in tax debt including any interest and penalties. They will also set up a due date for you to pay off. Most people who end up in this situation cannot pay their debt in full and ignore the situation. But it is the worst thing you can do. Because after you receive the third and final notice, the garnishment process will begin. However, you will still have 30 days to appeal before the IRS can actually seize your income.
How to get wage garnishment help?
To release your levy, you need to get back into good graces with the IRS. Creative Tax Solutions specialists will help you enter a realistic installment agreement and avoid additional penalties and interest. Call us to get a free first consultation and get expert advice on your case!
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