How To Prevent The IRS From Garnishing Your Wages
- May 22, 2019
- Posted by: Platinum Tax defenders
- Category: Tax Resolution
The IRS has several ways to collect your back tax payments from you. Wage garnishment is one of the most common methods for the IRS to collect the money you owe. If the IRS has started collecting your income to pay your back tax debt, it’s time to get help. Wage garnishment can create a disaster for your future financial planning. Once the IRS has taken money from you, it’s hard to get it back. Call a tax resolution services firm before it’s too late and find out what tax relief options are available.
What Is IRS Wage Garnishment?
The IRS can legally garnish a portion of your wages if you don’t pay your back taxes. Wage garnishment means that the IRS can demand your employer send them a part of your check. However, the IRS will not act on wage garnishment before sending you multiple notices. The IRS also does not consider whether you have other bills to pay before garnishing your wages. When it comes to back taxes, the IRS has one clear objective – to get their money. However, once the IRS has begun to garnish your wages, it doesn’t mean you can’t stop it. There are tax resolution services that help you with wage garnishment release. A tax attorney can also help you negotiate a tax relief plan to get the garnishment released. It’s essential to act quickly so that a tax attorney can release your wage garnishment as soon as possible.
What To Do When The IRS Garnishes Your Wages
First of all, you should never ignore notices from the IRS. If you ignore the IRS, your back tax debt will only increase. Before the IRS garnishes your wages, they’ll send you a Notice of Intent to Levy. If you ignore these notices, the IRS will go after a portion of your paycheck. As soon as you start getting these notices, call a tax attorney. A tax attorney can help identify tax relief programs for which you might qualify.
How Does Wage Garnishment Affect You?
Once the IRS decides to garnish your wages, they have unlimited access to your income. The IRS is obligated by law to only leave you with enough to cover the necessities. However, the IRS does not consider certain expenses to be necessities. The costs that the IRS will not take into account when determining how much to take from your paycheck include:
- mortgage or rent
- medical or insurance expenses
If you ignore the IRS’ notices, you could end up with far less income to cover your necessary expenses. The IRS is only required to leave you with approximately $375 to cover the costs. If you don’t pay your back tax debt, you’ll have even more financial stress.
How To Stop IRS Wage Garnishment
The first way to stop wage garnishment on your account is by paying your back tax debt in full. However, not everyone can pay their tax debt back in full. Also, unless you seek professional help, it’s possible you may be paying taxes that result out of an error. The error could either be on the taxpayer’s end or the IRS’ end. Therefore, you should hire a tax resolution professional who can make sure you’re paying the amount you need to pay. A tax attorney can also negotiate with the IRS on your behalf to reduce the amount of tax debt. The best thing you can do when attempting a wage garnishment release is to hire a tax resolution specialist. A tax relief professional can assist you through the process and appeal the wage garnishment.
Understanding Your Back Tax Debt
Hiring a tax resolution professional is also helpful because he or she can assess the reality of your tax situation. You might not know exactly how much you owe the IRS in back taxes. Also, you may not know if there are any missing tax returns you need to file. A tax relief professional can request copies of your outstanding balances from the IRS. Your tax attorney can also find any inconsistencies in your records that could result in you owing less. Also, a tax relief specialist will contact the IRS on your behalf, so you don’t have to.
Pay Off Your Back Taxes In One Lump Sum
If you can do it, paying off your back taxes is one way to get a wage garnishment released. Once you know how much you owe, you can decide how you can pay off the debt. Paying off your debt in one lump sum is the best option to avoid added penalties and interest.
Negotiate An Installment Agreement
If you can’t pay off your taxes in one lump sum, a tax relief specialist can help. An Installment Agreement is one tax resolution option you might want to consider. This tax relief option would allow you to make affordable monthly payments on what you owe. The IRS bases the payments on your income. With an Installment Agreement, you can also choose which day of the month you want to pay. A tax relief specialist can help you properly negotiate an Installment Agreement with the IRS.
Request an Offer in Compromise
You can also pay off your back taxes by requesting an Offer in Compromise. An Offer in Compromise allows you to pay off your account for less than what you owe. Platinum Tax Defenders recently successfully negotiated a client’s account down from over $140,000 to $100. A tax attorney can help you in effectively negotiating your Offer in Compromise amount.
Get Help From A Tax Relief Professional
No matter how you avoid an IRS wage garnishment, hiring a tax relief specialist can get you a better deal. A tax attorney can help you determine which repayment method is right for you. The tax resolution specialist can also negotiate with the IRS on your behalf and submit the necessary paperwork. An IRS wage garnishment can leave you in bad financial shape. The IRS only wants to get what money you owe them in back taxes. Often, they are willing to help you settle back taxes, but you have to know how to try. That’s where a tax relief services company can come in handy. When you hire a tax resolution professional, there are other methods you can use to avoid expensive IRS wage garnishment. Call Platinum Tax Defenders for a free consultation today.