Wage Garnishment or Wage Levy affecting your life?

Chances are if you are reading this, your wages are being garnished or levied because of unpaid back taxes. The IRS or state is taking money right out of your paycheck leaving you wondering how to pay your bills or make it to next week.

• The IRS or state will continue to garnish your wages until the debt is paid in full.
• A Wage Garnishment or wage levy will follow you from job to job.
• The IRS or state can take 100% of your paycheck if you are a 1099 employee, “self-employed contractor.”
• The IRS, or state in some circumstances, can garnish your social security check.
• A wage garnishment may only be the beginning. The IRS or state is already looking for your bank accounts and other assets they can go after.

If you are thinking about fixing this by yourself, consider this:

1. Do you have experience fixing IRS wage garnishments?
2. Have you ever tried to negotiate your wage garnishment with federal and state tax authorities?
3. Do you know what questions you will be asked and how best to answer?
4. Are you aware of the special provisions in the law that could save you money or reduce the wage garnishment?

 If you answered “No” to any of these questions, you owe it to yourself to get professional help on your side. Remember: The IRS is not on your side and what you don’t know will hurt you.

Don’t let this drag on and get worse. We may be able to stop or reduce your garnishment quickly if it’s due to unpaid back taxes. Call us today for a Free consultation about your situation.

 

The Typical Wage Garnishment Process

People usually find out about a wage levy at the last moment when they receive an IRS Notice of Levy at work. Most people find this embarrassing and many employers take a dim view of this situation.

The collections process only begins after the tax authorities have sent out several tax due notices. These are simply reminders that you have a balance due on a tax liability. The IRS implements the collections process by sending out a series of letters beginning with a notice of balance due(Notice CP 501 or CP 503) alerting you to the IRS’ intent to collect the debt.  A CP 504 notice, Intent to Levy, arrives soon after and is a final notice of a balance due. This comes by certified mail and notifies you that if you don’t respond, the IRS intends to levy state tax refunds, and they will be seeking to attach other assets you have rights to – usually wages and personal or business bank accounts.  Finally Letter 1058, Final Intent to Levy and Your Right to Due Process Hearing, is sent by certified mail. By this time, the IRS has identified an asset to attach – usually your wages!

Stopping a Wage Garnishment

To end an IRS wage garnishment before the tax debt is paid in full, you must take positive action by filing any prior-year unfiled returns and establishing a plan to repay your debt that the IRS will agree to.  You are strongly advised to work with a tax professional firm such as ASAP Tax Relief to advise you, build your case, and negotiate an agreement with the tax authorities.  You do not want to pretend like the wage garnishment is a just a payment plan because, the amount the IRS will take from your check will shock you and the IRS believes that you are not cooperating with them as this is still an “enforced collection.”

Here’s a typical example:  a single person who is paid weekly (and only claims herself) would only be able to bring home $182.69 per paycheck. Click here for the full IRS exemptions schedule.

ASAP Tax Relief Can Help

The Tax Specialists at ASAP Tax Relief can help in advising and implementing a course of action that will resolve your underlying tax problems so that the wage levy gets released.  There are a whole range of options that may be available to you.  Fill out our Free Consultation form or call us at 1-855-375-5400 to speak with a Tax Specialist and learn how we can help stop your wage garnishment.

 

Call Now for a Free Confidential Consultation regarding your wage garnishment situation: 1-855-375-5400.