How To Get An IRS Garnishment
What is an IRS Wage Garnishment or an IRS Wage Levy?
What Can I Do If the IRS Garnishes My Wages?
Advice for Success With Filing Taxes
- Do not delay, the longer you wait, the worst penalties can get. IT IS NEVER TO LATE TO FILE A TAX RETURN.
- Use an experienced tax professional that can File your delinquent tax returns and Reduce your back taxes. You will likely end up saving more money by using a tax professional than if you attempted to do everything on your own since they are experts and have handled many situations similar to yours. This is especially important if you do not have enough money to pay the taxes owed. The IRS always tries to make individuals feel that they must pay at all costs when this is not the case at all and you can find a settlement method that is right for you.
- FILE YOUR BACK TAXES: By law, the IRS cannot get rid of a levy if there are missing tax returns. For this reason, you need to be 100 percent sure that all of your returns have been filed and are in the possession of the IRS.
- DETERMINE HOW MUCH YOU OWE: Finding out how much you owe the IRS can be scary but simply cannot be avoided. This goes hand-in-hand with step number one: you won't know how much you owe until every one of your tax return has been filed.
- OPTIONS: Once your tax debt has been paid off, the IRS will stop garnishing your wages. There are a number of different ways to pay back taxes, including paying your tax liability in full, setting up an installment agreement with the IRS or submitting an offer in compromise. If you can prove yourself eligible, you may also want to consider requesting to be placed under "currently not collectible" status. If the IRS agrees with your plea, they will immediately release the levy for a time period of between 18 TO 24 months. It is important to keep in mind, though, that this is only a temporary measure.
Filing Back Taxes - How to File and What to Know
Why You Must File Back Taxes, Even If Late
- Penalties and Interest will grow significantly and increase the total tax amount you owe the IRS.
- If you do not file, the IRS may complete a "Substitute for Return," which is not optimal as it is one tax return for all years. No federal exemptions or expenses will be applied and therefore increase your total tax liability.
- If your tax liability is assessed and the IRS completes a substitute for return (SFR) for you, they will begin collecting. This means they can place a tax levy and take your wages, paycheck, commissions, Social Security, Social Security Disability (SSDI) or bank accounts, or file a federal tax lien on your personal personal property.
- The IRS will eventually find you. They have a complex computerized system (Automated Collection System / ACS) that works slowly, but efficiently.
Will the IRS Find You?
When the IRS Finds You
How to Stop IRS Wage Garnishment: Stop IRS Levy
Resolving your Tax Problems to Stop the Wage Garnishment (Levy)
- PAY THE IRS IN FULL- This might sound like the most obvious method. Most likely if your are reading this article, you do not have the ability to pay off your tax liability in full or even through a payment plan. You do have options. Finding some other way to pay the IRS in full can be a good option especially because if you don't, the IRS may take money form you that you need for your required bills to live.
- ENTER INTO AN IRS INSTALLMENT AGREEMENT- If you enter into an installment agreement with the IRS and have the agreement accepted, the IRS will stop the levy. With an installment agreement the IRS will allow you to pay back the taxes you owe in monthly increments until they are fully paid off as long as you can keep up on the monthly amounts and you can pay off the entire amount in a period less than 3 years.
- FILE AN OFFER in COMPROMISE- An IRS settlement through the Offer in Compromise program is a method that allows a taxpayer to settle their taxes for less than the total amount owed. The IRS has recently expanded and eased the requirements for an Offer in Compromise. The IRS is selective regarding who qualifies for this settlement program. People who are being faced with bank levies or wage garnishments tend to qualify for these types of agreements. If you want to consider this form of settlement it is a good idea to talk with an offer in compromise professional to see if you will qualify. Once you file for an offer in compromise it will stop collection actions while your case is reviewed for acceptance.
- HIRE A WAGE GARNISHMENT PROFESSIONAL- When dealing with IRS wage garnishment (levy) it is highly suggested that you seek professional with extensive experience with the IRS Collections Division to help stop the garnishment. A tax professional can quickly analyze your financial and tax situation and find the best method you can use to resolve your tax problem. They may use a combination of tactics in order to stop the levy depending on your situation. The IRS likes working with professionals in these types of situations and is more likely to give a professional a more favorable deal than an ordinary taxpayer.
- BECOME CURRENTLY not COLLECTIBLE- The one thing to note about the IRS is that they do not want to collect from individuals if it were to leave them without enough money to feed their family or put a roof over their head but will continue their collection mechanisms even if this were the case unless it is proven to them. Many times collections can be temporarily paused for months and up to years if a taxpayer can prove that their financial situation is bad enough that it would be unfair for the IRS to collect. A tax professional can expedite this for you.
- CHANGE EMPLOYERS - Do you like your job? If not and do not care about where you work or who you work for, this may be an option. If you change employers this will slow the IRS down. Once you leave your current job the IRS will not have any more funds to seize. Once you find another job the IRS will have to track down the new employer and reissue an IRS wage levy with that employer which may take up to a few months. This is an option only if you are trying to buy time and we do not recommend it. At some point in time, you need to settle down and have a life.
- TEMPORARILY QUIT - If you have a trusting employer that will allow you to temporarily quit your job then this can slow down the IRS as well. If you quit and are taken off the books then the wage levy ends. Once you get hired back on again the IRS will take some time to figure out what happened and will have to reissue the levy again. This can buy several months of time in order for you to settle your taxes in another manner. This may also put your employer at risk. Once again, we do not recommend this option.
- FILE FOR BANKRUPTCY- Filing for bankruptcy will stop a wage garnishment (levy). While this is not a suggested method, it will stop the levy temporarily and possibly for good. Sometimes bankruptcy does not settle tax debts and the IRS can take collection actions after the bankruptcy is through. It is a good idea to look at other tax settlement methods before considering bankruptcy. If you are a candidate for bankruptcy then it is quite possible that you may qualify for the offer in compromise program. Check with both an experienced Bankruptcy Attorney and a tax professional. Weigh your options.
- APPEAL THE TAX LEVY - If you don't agree with the levy that has been filed it is your right to appeal it. Even if you didn't appeal within the 30 days that your notice of intent to levy mentioned, you can still appeal the levy.
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