When you owe money in back taxes, an IRS wage garnishment may be levied against your wages once past attempts to collect the debt have failed. The IRS is very aggressive when pursuing outstanding tax money. They can put a garnishment on your earnings, freeze bank accounts, and seize property and any other assets you may have that can be sold for profit. The IRS has the legal right to use extreme measures to collect back tax debt. To protect your future, you must take immediate action with the help of a qualified tax attorney to resolve your tax liability.
Pay immediate attention to IRS notices
An IRS wage garnishment will certainly get your attention. The IRS is very serious and will take a portion of your income if needed. You will receive prior IRS notices of intent informing you of the amount you owe possible options for resolution, and the time limit in which you must respond before garnishment action occurs. If you ignore this notice and fail to respond, an IRS wage garnishment is inevitable and can be enacted without prior warning. There are tax debt resolutions available that are unfamiliar to most taxpayers. If you contact a tax attorney as soon as possible, an IRS wage garnishment can be prevented.
Once you begin to receive IRS collection letters, you become subject to an IRS wage garnishment. You have the right to request a hearing on this matter. At this hearing, evidence will be presented by both sides and a judge will determine the amount of your wages to be garnished. Considering your taxable income and number of dependents, you can expect to have 30% to 70% of your after tax wages garnished until the amount is paid off. You need an experienced tax attorney to represent you ensuring a fair agreement that will avoid a wage garnishment.
What can I do to stop IRS harassment?
You can attempt to negotiate with the IRS on your own; however this route is not recommended. If you are not well versed in the IRS tax code and do not represent yourself properly, your request can be rejected – or you can be coerced into paying more than you are required. Immediately seeking the services of a knowledgeable tax attorney is your wisest choice. They can protect your rights and secure the best financial resolution when facing an IRS wage garnishment.
A skilled tax attorney is expert in the application of the IRS tax laws and codes. They can expedite your tax debt to resolution, preventing increased penalties and fines, loss of income, seizure of assets, and a ruined financial reputation. An IRS wage garnishment need not become part of your financial history. Preventing a wage garnishment is imperative to protecting a major portion of your income.
How can I prevent an IRS wage garnishment from ruining my credit?
It matters which avenue you pursue when trying to come to a workable solution to your tax problem. You must take action now to prevent an IRS wage garnishment. A wage garnishment is a permanent black mark on your credit record. With the combined penalties and interest added to your outstanding balance, you will find yourself drowning in a sea of debt. Many taxpayers delay seeking help until it is too late. Protect your financial future and hire a tax professional to help you. In most cases, your problems can be resolved with little difficulty. Your peace of mind will be restored.