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IRS WAGE GARNISHMENT | TAX LEVY HELP |
LOS ANGELES IRS TAX RELIEF
Resolving IRS Wage Garnishment
The IRS has the power to garnish or legally seize any income you make to satisfy federal tax debt or taxes owed. IRS Wage Garnishments can apply to your:
1. Hourly wages
5. 1099 Pay (IRS will levy 100%)
The IRS will send a levy order to your employer and require them to directly send the IRS a major portion of your income. Your employer must by law comply with the IRS garnishment, typically within one full pay period of receiving the order to levy from the IRS. The difference between the IRS and most creditors, however, 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.
When the IRS seeks to garnish and seize your wages for a tax debt that you owe, the agency will first send you a written notice that sets out the amounts that you owe, including the tax, penalties, and interest. This notice to levy should also provide you with a due date by which you must pay your tax debt in full. Assuming that you do not pay the balance in full, you 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 your income.
How MuchCan The IRS Garnish From My Wages?
The law places limits on the amount that a regular creditor can garnish from your wages. However, these normal limits do not apply to the IRS. Rather, the tax code requires the IRS to, normally, leave you with a certain amount of income after garnishing your wages to pay your tax debt. The amount of money the IRS leaves you will not be enough to pay your everyday expenses. In fact, the IRS has the ability to take 100% of your paycheck by ordering a "Manual Levy." All it takes is a Revenue Officer to sign off on it.
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 wage garnishment by the IRS can amount to 70% or more of your income.
THE TAX PROFESSIONALS AT FLAT FEE TAX SERVICE ROUTINELY HAVE AN IRS WAGE GARNISHMENT STOPPED AND RELEASED IN ONE DAY. CALL 1-866-747-7435.
Stopping an IRS Wage Garnishment
There are a number of different ways in which you can resolve your problem with the IRS. In order to avoid or stop an IRS wage garnishment, you must get back into good standing with the IRS, either by paying your balance in full or entering into a tax payment plan or some other type of tax relief option.
1. Enter Into an Installment Agreement
The IRS will stop and release a wage garnishment if you enter into an approved installment agreement to pay your tax debt in full over a series of monthly payment installments. As long as you can make the monthly payments and pay off the debt before the debt becomes noncollectable by the IRS, your installment agreement is likely to be accepted by the IRS.
Submitting an Offer in Compromise
In some cases, you may be able to settle your tax debt with the IRS for less than the total amount that you actually owe, based on your financial situation. This is a fairly selective program and you have financially qualify. However, if you are facing a wage garnishment, you may qualify for this type of relief, and your wage garnishment will stop while your case is being reviewed.
You do need to be financially destitute to be eligible and qualified for an IRS tax settlement through n Offer in Compromise.
The IRS can suspend all collection activity if you are placed into Currently not Collectible status. If you can prove to the IRS that a wage garnishment or other enforcement action would prevent you from meeting the basic needs of you and your family, then the IRS may temporarily cease its collections efforts for months and even years. In this case, you must show that collection of the debt would be unfair because your financial circumstances are so bad. The IRS will require financials.
Being Currently not Collectible will be for 12 to 18 months , then it would need to be renewed. It is quite possible that being Currently not Collectible will allow you to beat the Statute of Limitations. Your tax debt could just "go away." This strategy should be overseen by an experienced tax professional.
If you owe more than $10,000 (the minimum for an Offer in Compromise), and have few assets if any other than your paycheck, you should look at a complete tax settlement.
An IRS wage garnishment can cause a severe financial hardship on you and is required to stay in effect until it has been released. If you have very little to show for your work, how will you pay for your everyday expenses?
We understand that the release of the wage garnishment is the most important item at this time in your life. The IRS will often not release the wage garnishment unless certain tax filings have been made, financial statements provided and other required documents. However, under certain circumstances our tax professionals can expedite the release of the wage garnishment.