An IRS wage garnishment is the legal way for the IRS to collect taxes from you without you actually paying them by having the taxpayer’s employer garnish their wages and send them to the IRS.
There are many ways you can prevent or stop a tax levy. The method you use should be determined by your financial and tax situation. Even if you do not qualify for any of the methods to stop a wage levy there are still ways to negate the effects of the levy. Know your options to make a wise decision about how to stop the wage levy and to protect your assets from the IRS.
Can an IRS wage garnishment be stopped once the IRS has started to garnish my wages?
- Yes a garnishment can be stopped once the IRS has started the levy. The IRS would actually prefer you to make some other form of arrangement than to enforce a garnishment. Some options can be to pay the IRS in full, enter into an installment agreement, file for an offer in compromise, get declared uncollectible, file bankruptcy, change employers or quit your job. The most common methods to stop a levy are to enter into an installment agreement, pay in full or file for an offer in compromise.
How much of my wages can the IRS take?
- The IRS does have some guidelines as to how much they can take from you. They try to leave you with enough to pay your required expenses to live but this typically does not happen. IRS guidelines go by the national average of required amounts to live and if your rent is higher than the average, you will be left with an amount not high enough to pay your required expenses. The IRS can garnish upwards of 80% of your wages until they have collected the entire amount of your tax liability.
What kind of wages can the IRS take?
- The IRS can seize salaries, commissions, bonuses, wages, retirement money and pension earnings. The IRS can take a minimum of 15% of your Social Security, Social Security Disability (SSDI) and/or Veterans Pension. If you do not have any of those they will likely try to seize any other property you have.
How can I stop the IRS from garnishing my wages?
- The short answer is: The best way to stop an IRS wage levy is to call the best IRS help team at Flat Fee Tax Service, Inc.
- You must stay on top of all required tax filings and pay all tax amounts owed to the IRS. If you cannot afford to pay the IRS you must come up with another form of agreement with the IRS to ensure that you pay back your taxes. The IRS has many methods available to those taxpayers that cannot afford their taxes, the method you pick depends upon your financial and tax situation.
What are the IRS rules / laws on garnishments? What are my Rights?
- The IRS must send a final notice of intent to levy and notice of your right to a hearing at least 30 days before they can begin to levy your wages.
- The IRS could have sent the final notice years ago and can send it to any address that the IRS has on file for you. This means that you may never know when the levy will hit.
- The IRS must have assessed a tax liability and sent you a notice to demand payment prior to the levy.
- You must have neglected or refused to pay the amount that was assessed by the IRS.
How can a tax professional help with an IRS wage garnishment?
- A tax professional can help more than most people realize in a situation where a wage levy is involved. If the levy has already begun a IRS Tax Attorney at Flat Fee Tax Service, Inc. can put a hold status on your IRS wage levy while our team negotiates a tax settlement on your behalf. The hold will be in place the entire time an IRS settlement is negotiated which ensures that you do not have any more money seized. Flat Fee Tax Service, Inc. has a team of tax professionals who will analyze your financial, tax and work situation to come up with the best IRS settlement method for your unique situation. They will ensure that you get back into good standing with the IRS while keeping in mind your financial needs.
Do need help stopping a wage levy? The IRS Tax Attorneys at Flat Fee Tax Service, Inc. can not only help, our team can stop and have your IRS wage levy released in one day. Understand the benefits of using a tax professional when dealing with a wage levy. Request a free and confidential consultation to talk with our experienced tax specialists and get back on track to financial freedom.