Thursday, April 14, 2011

What is the process for an IRS Wage Garnishment -- What can You do about an IRS Levy

THE IRS GARNISHMENT PROCESS

WHAT IS AN IRS LEVY?


A wage levy or IRS garnishment is the most common form of forced collections used by the IRS. An IRS Wage Levy or IRS Garnishment is a forced collection. The IRS will contact the taxpayer's current employer and demand that the employer (entity or person holding your funds) withhold a percentage of the paycheck to satisfy the back tax liability. Employers must adhere to the demands of the IRS because if they don't, your employer will be responsible for the tax amounts that they should have withheld from your paycheck, wages or commissions. The IRS will continue to garnish your wages until they have collected the entire tax amount owed plus penalties and interest, until the Statute of Limitations has expired or the LEVY / IRS GARNISHMENT HAS BEEN RELEASED.


Flat Fee Tax Service, Inc. 

Will Have Your IRS Wage Levy Released 

in 1 Day/24 Hours.

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Once you receive a Notice of Intent to Levy and Your Right to a Hearing (CP 90, CP 91, Letter 1058) from the IRS you will have thirty days until the IRS will begin seizing assets. The IRS will then continue to seize your assets until the money received from those assets covers your tax bill plus all subsequent penalties and interest. 

WHAT YOU CAN DO - YOUR OPTIONS

  • Pay the entire back tax debt
  • Enter into a formal Installment Agreement with the IRS - before you agree to a payment plan with the IRS, be sure that the amount is correct - can your tax debt be reduced due to "reasonable cause"
  • Submit an Offer in Compromise and settle with the IRS
  • Prove a Financial Hardship and be declared Currently not Collectible
HAVE YOU FILED ALL DELINQUENT TAX RETURNS

If you have unfiled and delinquent tax returns, you will need to become Compliant in a short period of time. Being Compliant means that all of your tax returns have been filed. You may be able to file the past 6 years to become Compliant.

Flat Fee Tax Relief has had success in having an IRS Wage Garnishment (Levy) Released and Removed even though some of our clients are not Compliant. Some of the factors involved are:

  1. How much does the IRS claim that you owe? The more that you owe, the harder it is to have an IRS Garnishment stopped if you have unfiled tax returns. As an example, it would be easier for someone with unfiled tax returns with $15,000.00 in back tax debt to have an IRS Garnishment released than it would for someone with a $100,000.00 tax liability.
  2. Have you sent any "crazy letters" to the IRS regarding the Constitution and the validity of the IRS. The IRS tends not to take to kindly to these "letters" and will not be willing to "cut you a break".
  3. You will be required to commit yourself to having all of your tax returns filed within a short period of time. A short period of time would be 30 days or less.
IRS LEVY / IRS GARNISHMENT

THIS IS WHAT A LEVY / GARNISHMENT IS


An IRS Levy or Garnishment is a legal seizure of your property to satisfy a tax debt. A Levy or Garnishment is different from a tax lien. An IRS tax  lien is a claim used as security for your tax debt, while an IRS levy will actually take your property to satisfy the tax debt.

If you do not pay your taxes (or make arrangements to settle your tax debt), the IRS may seize and sell any type of real or personal property that you own or have an interest in. For example,
  • The IRS can seize and sell property that you hold (such as your car, boat, or house), or
  • The IRS can levy property that is yours but is held by someone else (such as your wages, Social Security, Disability (SSDI) retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions).
THE IRS HAS TO MEET ONLY 3 REQUIREMENTS

BEFORE THEY LEVY YOUR PAYCHECK or SOCIAL SECURITY

  • The IRS must have assessed the tax and sent you a Notice and Demand for Payment;
  • You did not pay the tax debt (you neglected or refused to pay the tax); and
  • The IRS has sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (CP 90, CP 91, Letter 1058) at least 30 days before the levy. The IRS could give you this Levy notice in person, leave the Intent to Levy at your home or your usual place of business, or send the Levy Notice to your last known address by certified or registered mail, return receipt requested. Please note: the IRS can levy your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
IT DOESN'T TAKE MUCH TO LOSE YOUR WAGES

AN IRS GARNISHMENT WILL LEAVE YOU WITH LITTLE



WHAT ARE YOU GOING TO DO?

FLAT FEE TAX RELIEF WILL STOP YOUR

IRS WAGE LEVY / IRS GARNISHMENT

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BACK TAXES, IRS PROBLEMS and HELP

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If you qualify for an IRS Settlement through the IRS Offer in Compromise (OIC) program, you can "get your life back", you can save thousands of dollars in taxes, penalties and interest. Taxpayers can have IRS Tax Debt on all types of taxes, including most payroll taxes, penalties, and interest. It is the closest thing to amnesty that the federal government offers in connection with back tax debt.

WHY FLAT FEE TAX SERVICE FOR YOUR IRS SETTLEMENT
• Experienced Tax Attorneys
• Lower fees - higher value
• Integrity, credibility, personal service & results
• No Salesman - No Pressure

FLAT FEE TAX SERVICE - IRS SETTLEMENT FEES ARE:
• Fixed with no hidden charges
• Payable in monthly installments
• Low initial payment to begin work
• Always competitive and affordable 





STOP THE LEVY

SETTLE with the IRS

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1 comment:

  1. With the Federal and State governments broke, you can be sure that you will face an IRS Garnishment if you have a back tax debt. Have unfiled taxes? Look to being levied. You have options if you want to be pro-active.

    ReplyDelete

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