The IRS can use wage garnishment as one way for them to obtain the amount of back taxes you owe. If wage garnishment has already happened to you or if it is a possibility in your future, you have IRS Problems. The stress caused by any IRS Problem can put a strain on both you and your family’s financial and emotional situation. Let our knowledgeable staff work with you to solve your IRS Problems. Click here to watch or read more information on IRS Back Taxes. We can help you stabilize your finances and free you and your family of this worry.
IRS Notification Process
Prior to the IRS resorting to wage garnishment, you will be notified by either phone, mail, or a personal visit. Do not ignore this notification. If you act quickly, you can stop the wage garnishment process. If you do chose to ignore this notification, you will then receive a legal notice stating that the IRS will be using the means available to them to help collect your back taxes. No other notification has to occur before the IRS takes action.
So What Actually is Wage Garnishment?
Wage garnishment involves the seizure of your assets, either a portion or all, depending on how much you owe the IRS. This includes both your wages and your bank accounts. Your employer will send a portion of your wages to the IRS before you receive your paycheck. You will never see this money! This will go on until your back taxes are paid-in-full or you come to some agreement with the IRS.
What are your options?
So, what are your options to end wage garnishment? To end wage garnishment or to avoid it all together, you will have to either pay your back taxes plus the interest and penalties it has accrued or negotiate with the IRS for other payment options. This will involve filling out and filing forms to obtain an Offer in Compromise, an installment agreement, or a currently not collectible status. Our office can guide you through this process.
Obviously, your best option would be to avoid the IRS Problem of wage garnishment by paying your taxes on time each year. If you need IRS Help with this or any other IRS Problems, let us help you. Our staff is available to guide you toward financial stability for you and your family so you can be stress free.