Monday, May 16, 2011

Stop IRS Wage Levy -- Top Tips -- How Much Can IRS Take -- What is exempt from IRS Levy

STOP AN IRS WAGE LEVY
Top Tips

Top Tip #1

Contact us, Flat Fee Tax Service, Inc. - - 1 - 8 0 0 - 5 8 9 - 3 0 7 8

Flat Fee Tax Service will have your IRS Wage Levy 

stopped and released in 1 Day/24 Hours.




Top Tip #2

You need to be Compliant. All of your tax returns need to be filed. We, at Flat Fee Tax Service Inc., have been successful in having an IRS Wage Levy stopped and released even though a client has unfiled tax returns. This is the exception and not the rule. At the minimum, a promise/commitment to have all of your tax returns filed within a period of time (usually 30 days) will needed to be to be given. 

If you have unfiled tax returns, you have waived your rights. You cannot settle your tax debt with the IRS. You cannot even enter into an Installment Agreement with the IRS. The IRS will continue to seize your paycheck, wages, Social Security through their Levy powers as long as you have unfiled tax returns.

Top Tip #3

Take immediate action when you receive the Notice of Intent to Levy and your Right to a Hearing (CP-90, CP-91, Letter 1058, certified mail, etc.). This is the ideal time to tie up your case, give you some breathing space and take the necessary steps to get you compliant and settle your back tax debt.

Top Tip #4

Get experienced, professional tax help as quickly as possible. If you don't, you will work all week or two weeks, or a month, only to find on Payday that the IRS has levied your pay and has left you with nothing or next to nothing.

How much can the IRS legally levy?  All of it if you are self-employed!  All of it if you are commission salesman, Realtor, doctor, lawyer, candlestick maker, or anyone else receiving 1099 income where taxes are generally not withheld.

If you receive a W-2 all will be taken EXCEPT an amount equal to the sum of your exemptions and your standard deduction.  For a single person that is about $156 per week. Even then, the IRS could impose what is called a Manual Levy which can can everything that you make.

The property exempt from an IRS levy in subsection (a) includes wearing apparel and school books; fuel, provisions, furniture, and personal effects, not to exceed $500 in value; books and tools of a trade, business, or profession, not to exceed $250 in value. Social Security benefits are not specifically exempted from levy by this subsection. Furthermore, as between conflicting treatment of the same matter by two statutes (section 207 of the Social Security Act and section 6334 of the Internal Revenue Code of 1954), the one enacted later (section 6334 of the Internal Revenue Code of 1954) would control with respect to that matter.

Top Tip #5

Do not let your ego overrule common sense. You are not going to "out-smart" the IRS. You are inexperienced and the IRS deals with thousands and thousands of people like you every day. You do not know the collection rules/laws regarding the Levy process. 

Do not make a bad situation worse. There are positive actions that can be taken to stop your levy and start the process of settling your tax debt.

Top Tip #6

Do not get into a shouting match with anyone from the IRS. Do not send "crazy" letters to the IRS regarding the Constitution and the Income Tax Code. Don't do it. It will only make matters worse and make it harder for yourself.

Top Tip #7

How long will it take?   That is up to you.  We know you want a Levy release quickly, but delays may happen if you have old tax returns that have not been filed, or if hostile calls have been made to the IRS.  That is why it is so important to file your tax returns even if you cannot pay.  The IRS will eventually get you.

Top Tip # 8


Be Like Harold







WHY FLAT FEE TAX SERVICE, INC. TO STOP IRS LEVY:
Experienced Tax Attorneys
• Accredited by the Better Business Bureau - A- Rating
• Integrity and credibility always
• IRS Wage Levy Release in 1 day/24 hours

FLAT FEE TAX SERVICE, INC. FEES ARE: 
Flat and Fixed fees with no hidden charges
• Credit Available for Everyone - Fees payable in monthly installments
• Low initial payment to begin immediate work
• Always competitive - Affordable fees 

Top Tip #9

When trying to stop an IRS Garnishment / Wage Levy by the IRS or the State you should always consider the “Offer in Compromise” option. If you qualify, an offer in compromise is the offer of a smaller amount for the settlement of your total tax debt. There are times, particularly if the amount is greater than they would be able to collect once legal actions went into play, when the IRS or the State will happily accept a negotiated tax settlement. Not everyone qualifies for an offer in compromise and it is definitely in your best interest to consult with an experience tax/IRS professional for help in drafting this serious proposal and to see if you actually qualify.

A possible last resort when it comes to an attempt to stop a wage garnishment/levy by the IRS or the State may be a Hardship Tax Relief Petition. You will definitely need the advice and guidance of a well-qualified and experienced IRS/tax professional in this matter in order to make sure you are drafting and presenting the currently non-collectable proposal correctly. If the value of the savings to you is great, then it is definitely worth the cost of an experienced IRS/tax professional when trying to stop an IRS Garnishment / Wage Levy by the IRS or the State.

TOP TIP OF ALL


CALL


FLAT FEE TAX SERVICE, INC.

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1 comment:

  1. If you are facing an IRS levy due to your tax liability, there are steps that can be taken to limit and reduce the damage.

    ReplyDelete

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