The IRS has the power to garnish (tax levy) or legally seize any income you make to satisfy any federal tax debt. An IRS garnishment can apply to your hourly wages, salary, commissions, and bonuses. The IRS will order your employer directly and require them to directly send the IRS a portion of your income. Your employer is required by law to comply with the IRS wage garnishment, typically within one full pay period of receiving the notice from the IRS. The difference between the IRS and most creditors, however, is that the IRS doesn’t go to court to order a seizure.
The IRS Garnishment Process
When the IRS decides to garnish your wages for a tax debt that you owe, or use any other legal means to enforce payment of the taxes that you owe, it will first send you a written notice that sets out the amounts that you owe, including the tax, penalties, and interest. This notice should also provide you with a due date by which you must pay the balances in full. Assuming that you do not pay the balance in full, you later will receive another notice, entitled “Final Notice of Intent to Levy,” Once thirty days have passed from the time the final notice has been mailed, and you still have failed to pay the balance due, the IRS can proceed with garnishing your income.
The Amount that the IRS Can Garnish From Your Wages
The IRS has no limits. The tax code requires the IRS to leave you with a certain amount of income after garnishing your wages to pay your tax debt. The tax code contains a table that corresponds to the number of exemptions that you claim for tax purposes, and sets forth the amount that is necessary for you and your family to pay for basic living necessities. Unfortunately, an IRS wage garnishment by the IRS can amount to 70% or more of your income.
PLEASE NOTE: THE IRS CAN TAKE 100% BY MANUAL LEVY.
Stopping IRS Garnishment
There are a number of different ways in which you can resolve your problem with the IRS. In order to avoid or stop an IRS wage garnishment, you must get back into good standing with the IRS, either by paying your balance in full or entering into a tax payment plan or some other type of resolution.
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The very first step is to stop an IRS garnishment or protect you from an IRS wage garnishment. In some cases, you may be able to settle your debt with the IRS for less than the total amount that you actually owe, based on your financial situation. This is a fairly selective program and you have financially qualify. However, if you are facing an IRS wage garnishment, you may qualify for this type of relief, and your tax levy will stop while your case is being reviewed.
I am Dave Rosa. It is my duty and pleasure to provide you with a thorough and comprehensive consultation regarding your IRS wage garnishment. Our conversation will take 20 to 30 minutes of your time. By the end of our conversation you will be completely informed. Our tax professionals have never failed at having an IRS wage garnishment stopped and released.
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