Wage garnishment is a method used by the IRS in order to collect unpaid taxes. If you owe taxes and have failed to make and/or adhere to repayment agreements in the past, then you could be at risk for wage garnishment.
With this collection tactic, the IRS can take up to 70% of your paycheck until the past-due amount is fully repaid. The federal and state government can also seize assets including bank accounts. Virtually any item of value could be taken to satisfy the outstanding back taxes. The IRS and state taxing organizations have formidable powers to collect back taxes.
Wage garnishment is a form of the tax levy, but once the levy has been removed through tax resolution, the garnishment will stop. You may also be able to negotiate an installment plan with the agency that will stop the government from taking your earnings. Though you can negotiate on your own, it may be helpful to have an expert who specializes in tax resolution to help you get the voluntary installment plan set up and initiated. Once this takes place, the IRS will stop all wage garnishments. If you do not adhere to the plan, then they have the right to nullify your repayment agreement and go back to garnishing wages.
If you find yourself in this type of predicament today, then why not get professional help from The Tax Resolvers? We’re highly skilled and ready to assist with all types of IRS problems. Please call us to learn more about how to stop wage garnishments in as little as two weeks.
Don’t try to fight the IRS alone, our tax professionals can help!