End IRS Garnishment | Tax Levy | One Day | Flat Fee Tax Service
Updated: Nov 22, 2019
IRS Garnishment - Tax Levies - How to Stop and End a Tax Garnishment
The IRS has the power to garnish, levy or legally seize any income you make to satisfy federal tax debt or taxes owed. A tax garnishment can apply to your hourly wages, salary, commissions, Social Security, Veteran's benefit and bonuses.
The IRS will contact your employer or other entity (Social Security Admin.) directly and require them to send the IRS a portion of your income. Your employer is required by law to comply with the IRS garnishment (#IRSwagegarnishment), typically within one full pay period of receiving the order to levy from the IRS.
The difference between the IRS and most creditors, is that the IRS does not need to take you to court to get a judgment in order to garnish your wages, and the IRS can garnish more of your wages than a regular creditor can garnish. In fact with a simple signature from a Revenue Officer, the IRS can seize 100% of your wages - check through what is called a "Manual Levy".
The IRS Garnishment -
Tax Levy Process
When the IRS seeks to garnish your wages for a tax debt that you owe, or use any other legal means to enforce payment of the taxes that you owe, it will first send you a written notice that sets out the amounts that you owe, including the tax, penalties, and interest. This notice should also provide you with a due date by which you must pay the balances in full. Assuming that you do not pay the balance in full, you later will receive another notice, entitled “Final Notice of Intent to Levy,”
Once thirty days have passed from the time you have received the final notice, and you still have failed to pay the balance due, the IRS can proceed with garnishing and seizing your income.
The Amount that the IRS Can Garnish From Your Wages.
The IRS has no limit as to how much they can seize unless the tax garnishment is ended and stopped. The tax code requires the IRS to leave you with a certain amount of income after garnishing your wages to pay your tax debt. but the tax code also has a mechanism called a "Manual Levy". Also, if you are a 1099 employee, the IRS will take 100% of your money.
The tax code contains a table that corresponds to the number of exemptions that you claim for tax purposes, and sets forth the amount that is necessary for you and your family to pay for basic living necessities. Unfortunately, a garnishment by the IRS can amount to 70% or more of your income.
ARE YOU THOROUGHLY CONFUSED YET? Stopping an IRS Garnishment End a Tax Levy
You may be able to settle your debt with the IRS for less if you are eligible and qualified. An Offer in Compromise (#OfferinCompromise) is a fairly selective program and you have to financially qualify.
If you are facing a tax garnishment, you may qualify for this type of IRS relief, and your tax levy will stop and end while your tax settlement is being reviewed.
Currently not Collectible - Uncollectible Due to Financial Hardship
Placed in Currently not Collectible status - If our tax professionals can prove to the IRS that a tax garnishment or other IRS levy would prevent you from meeting the basic needs of you and your family. The IRS may temporarily cease its collections efforts. The term "temporarily" means the IRS will cease collection efforts for approximately 18 to 24 months before they re-check on your financial condition. While the IRS leaves you alone, penalties and interest will continue to increase. However, the Statute of Limitations continues to run out. If the time that the IRS has to collect $ runs out, your tax debt goes away. for months and even years.
THE IRS WANTS TO EITHER -
COLLECT MONEY OR CLOSE A CASE.
FLAT FEE TAX SERVICE CLOSE IRS CASES.