If you owe back taxes to the IRS or State Taxing Authorities, eventually the IRS/State will begin to take more aggressive actions to collect the amounts you owe. One of the collection tactics the IRS can employ is the issuance of a Wage Levy, also known as a Wage Garnishment. When the IRS imposes a wage garnishment, it means, literally, that they take money out of every paycheck – often seriously jeopardizing an individual’s lifestyle and making it impossible to maintain the same standard of living.
Have you have received an IRS notice indicating their intention to apply a wage garnishment to your paycheck? If so, what exactly does that mean to you and what can you do to fix it?
Once the IRS notifies a taxpayer that they are imposing a wage garnishment, it means they can notify the taxpayer’s employer and the employer will then be required, by law, to send a significant portion of each of the taxpayer’s paychecks directly to the IRS to offset the debt. The dollar amount sent to the IRS for a wage garnishment depends on the taxpayer’s filing status, the number of exemptions claimed and how often the taxpayer gets paid. If the taxpayer does nothing, the IRS will continue to garnish their wages until the back tax debt is paid in full.
How Tax Group Center Can Help…
At the Tax Group Center, we always advise taxpayers against trying to take on the IRS on their own. The tax team at Tax Group Center is experienced in dealing with wage garnishments. If you qualify for tax relief, our tax team will work with the IRS to negotiate the full or partial release of the wage garnishment. Depending upon your individual circumstances, we may be able to arrange an Installment Agreement that will allow you to pay the IRS a smaller dollar amount every month until the debt is paid, and depending on your financial circumstances, we may be able to negotiate an Offer in Compromise and settle your debt for less than the actual liability.
If you receive notice of a wage garnishment, we suggest you contact Tax Group Center immediately. When you hire Tax Group Center, you can be comfortable in knowing that our Tax Team has years of experience in dealing with the IRS. With our tax professionals and CTEC Certified Tax Consultants on your side, you can face the IRS with confidence. Don’t become another IRS statistic.