WAGE GARNISHMENT RELEASE
What if the IRS took 70 percent or more from your paycheck every month due to outstanding tax debt? If you have an outstanding balance with the IRS, you’re at risk for wage garnishment. Legally, the IRS can take any income you make to satisfy any tax debt you owe. The IRS can take your money until the full debt amount is paid off. To do this, the IRS will directly contact your employer and request that they send the IRS a portion of your check. By law, your employer is required to comply with the IRS’ request. The IRS could start garnishing your checks within as little as one full pay period of receiving the notice. It’s even possible for the IRS to seize your social security income.
THE IRS AND WAGE GARNISHMENT: HOW IT WORKS
When the IRS pursues wage garnishment for a tax debt that you owe, it will first notify you via a written letter. The letter will lay out the amounts that you owe, including any tax, penalties, and interest. In this notice, you’ll also receive a due date for when you must pay the balance in full. If you do not pay the debt in full by the due date on your notice, you will receive a second notice. The following notice is called “Final Notice of Intent to Levy.” If you don’t pay off your tax debt within 30 days of receiving the final warning, the IRS will garnish your income.
If your earnings are garnished to pay your tax debts, that garnishment is still considered taxable income. The amount garnished will always be reportable as wages on your tax return, even though the IRS took that money. Also though the money never made it into your pocket, wage garnishment is 100 percent taxable. The risk of wage garnishment is more reason to seek out help from a tax resolution company you can trust.
HOW MUCH CAN THE IRS GARNISH FROM YOUR WAGES?
The IRS is a different behemoth compared to most creditors. In contrast to creditors, the IRS does not have to take you to court to garnish your wages. It can just simply start once it’s notified you of its intent to garnish your wages. Also, the IRS can garnish more of your payments than a regular creditor can. The IRS only must leave you with enough income to pay for basic living necessities. Often, a wage garnishment by the IRS equals 70 percent of your income or more. Just about anything of value can be seized by the IRS when you owe them money.
The IRS can legally do any of the following if you don’t pay your taxes:
- Seize your bank accounts
- Mandate payments from your employer
- Take control of any property you own. The IRS can take control of personal or business property. It can also take over the title on your vehicles
STOPPING THE IRS FROM GARNISHING YOUR WAGES
Outside of paying your debt in full, there isn’t much you can do when it comes to wage garnishment from the IRS. Seeking out the help of experienced tax resolution experts, like Platinum Tax Defenders, can help you identify your options. There are some specific circumstances where the IRS would stop your wage garnishment before your balance is paid off. These circumstances include:
- The collection period for the tax you owed expired before the IRS sent you a wage garnishment notice
- Wage garnishment began before your 30-day response period since receiving the “Final Notice of Intent to Levy.”
- You declare bankruptcy
- The IRS is considering your offer in compromise or installment plan request, and an appeal is in process
At Platinum Tax Defenders , we have a team of experts highly experienced in tax resolution. Our tax attorneys, x-IRS attorneys, enrolled agents, and CPAs can help you move forward from your wage garnishments.
WHAT TO DO IF YOU GET A FINAL NOTICE FOR WAGE GARNISHMENT FROM THE IRS
You can sometimes get out of the IRS garnishing your wages through tax resolution options. One form of tax relief available is negotiating an installment plan. An installment plan allows you to pay an agreed upon amount per month until your tax debt is gone. Deciding on an installment plan with the IRS will remove your employer from your tax debt situation. Also, an installment plan gives you the power to control the money that comes out of your bank account. An installment plan can also typically result in a monthly payment that is much less than the wage garnishment amount.
Contact the experts at Platinum Tax Defenders if you receive a “Final Notice of Intent to Levy” from the IRS. We’ll contact the IRS on your behalf to discuss your options. Our tax law knowledge and experience with the IRS can help us attempt to delay the wage garnishment proceedings. We understand that dealing with wage garnishments from the IRS can be frustrating and embarrassing. Our experienced tax resolution team will assess your situation and help you with your wage garnishment release. Platinum Tax Defenders has been successful in helping our clients with getting wage garnishments released in a timely matter. As top tax defenders, we know your rights and we’ll help you defend them.
WHAT IS A WAGE GARNISHMENT RELEASE?
A wage garnishment release is when a notice is filed with the court to stop the wage garnishment from proceeding. Platinum Tax Defenders can work with you to see if you’d be eligible to have your IRS wage garnishment released. If we determine you are available for release, we’ll place a hold on your account. While your account is on hold, we’ll evaluate your situation and determine the best tax resolution solution for you. There is a range of tax relief situations that may be available, including:
- Settling your debt through an offer in compromise
- Having penalties removed by submitting a Penalty Abatement
- Coming up with an installment agreement that would allow you to make monthly payments that are comfortable for you
- Helping you prepare your unfiled tax returns
Wage garnishments will remain in effect until the IRS notifies your employer that they are releasing the wage garnishment. If you don’t act, the wage garnishments will continue until your tax debt is gone. Once the IRS takes your income, you may not have enough left to pay for rent, groceries, or transportation. One of the most convenient options for paying off a tax debt is in agreed upon monthly payment installments.
It’s imperative to consider seeking out representation from a tax resolution company who understand tax law and IRS procedures. Platinum Tax Defenders can help you by negotiating an installment agreement with the IRS. An installment agreement could be the most effective and manageable way to pay off your debt. It would be best if you didn’t have to go through this process alone, and you don’t have to. Platinum Tax Defenders is here to help.
CAN YOU APPEAL YOUR WAGE GARNISHMENT NOTICE TO THE IRS?
You can request an appeals hearing within the 30 days since receiving your final wage garnishment notice from the IRS. The hearing is called a Collections Due Process (CDP) hearing. However, the hearing is not the time to argue the amount of tax debt you owe. During the hearing of the appeal, you’d only be able to address issues about the wage garnishment. If you are considering appealing your wage garnishment notice, seek out the help of a tax resolution company. Platinum Tax Defenders can help you navigate the process and explain your options to you.
CAN YOU NEGOTIATE YOUR WAGE GARNISHMENT WITH THE IRS?
You may be able to negotiate for your wage garnishment to be released if any of the following exist:
- You have extensive financial documentation and hard evidence that the wage garnishment is causing you unfair financial hardship
- The original tax debt amount sent to you is incorrect
- The statute of limitations is expiring on the debt
You might also be able to make an offer with the IRS to come up with a monthly payment plan. A monthly payment plan allows you to pay an amount that works better for you. The amount you pay is often a lesser amount than the IRS’ wage garnishment. Platinum Tax Defenders has extensive knowledge of IRS wage garnishment laws and can help you navigate your options.
CALL PLATINUM TAX DEFENDERS TODAY IF YOU’RE AT RISK FOR WAGE GARNISHMENT
If you act soon, you can prevent severe penalties from the IRS by taking action before a wage garnishment notice arrives. You might already be aware of your inability to pay off tax debt before the IRS even contacts you. Our professional experience with the collections department of the IRS has enabled us to act quickly to have a wage garnishment released. We can prepare any tax returns that have not been filed and discuss options for any tax balances that are due. Among the tax relief options, we specialize in are offer in compromise, installment agreement, or currently non-collectible. We can assist you with getting the wage garnishment released, so your money goes in your pocket and not to the IRS. Contact us now to prevent any unnecessary penalties and interest on unpaid taxes that can worsen your situation.
Platinum Tax Defenders
WHO WE ARE
Platinum Tax Defenders is a full-service tax resolution firm in Los Angeles that has been helping taxpayers resolve their IRS and State tax issues since 2011. Our team of tax attorneys, accountants, and enrolled agents have a combined more than 90 years of experience in the financial services industry. Our team is ready to provide tax relief services to clients facing wage garnishments, bank levies, liens, and other challenges.
WHAT WE DO
Platinum Tax Defenders is a full-service tax resolution firm that includes a tax attorney, IRS enrolled agents, and certified public accountants specializing in providing tax relief services for taxpayers facing IRS or State tax debt. We work with the IRS on your behalf to come up with reasonable payment options and settlements. Our tax professionals are knowledgeable and experts in tax negotiations. The consequences for unpaid taxes vary by each individual taxpayer’s situation. But unpaid tax debt can lead to wage garnishment, property liens, and bank account levies. Platinum Tax Defenders will help you reach a tax resolution plan before
it’s too late. We offer fast response protection to our clients and a commitment to gaining major tax reductions. Whether this is your first time facing a tax problem, or you have previously hired a tax relief firm in Los Angeles to resolve your tax debt, we have a track record of consistently garnering IRS settlements for our clients.
WHY TRUST US
At Platinum Tax Defenders, we’ve developed an impeccable reputation for doing what’s best for our clients, 100 percent of the time. We are honest and upfront with you about your tax debt
situation, and the type of tax resolution services we can provide. Each individual tax situation is different, and we’ll do whatever we can to negotiate with the IRS to help you reach a tax relief plan that works for you. We are experts in our field and work diligently to resolve the specific tax issues that each of our clients face. Platinum Tax Defenders offers fair and honest tax resolution services, and you can count on us to operate professionally and legally.
Many tax relief services in Los Angeles tend to make promises that are unrealistic. You can count on us to always be honest and upfront about your financial situation, and what type of tax resolution results you should expect.