IRS Wage Garnishment
What is a Wage Garnishment?
A wage garnishment is a way for the IRS to get the money they are after. They can contact your employer and have a portion of your earnings taken out of your pay and sent directly to them to pay your back taxes. They can also contact your financial institution where you have your bank account and freeze it then seize it.
Tough Times for an IRS garnishment
The economy is very harsh right now, and many people have bills that they simply can’t pay. It can be a struggle to keep food on the table in many households right now. That is why some people haven’t paid for their taxes. Yet you can’t hide from the IRS so your best bet it is to let resolve your back taxes to avoid and stop the wage garnishment.
When the IRS doesn’t hear from you, they will take all actions necessary to get what is owed to them. People are ignoring the letters and the phone calls. They often have no choice at that point but to take levy actions such as garnishing your hard earned paycheck. A wage garnishment allows them to get some money every single pay day from you the taxpayer until the balance is paid in full with penalties and interest.
Additional Penalties and Interest
When the IRS has to file for a garnishment of your wages, there are additional fees. They will pass those along to you as well. If you originally owed $20,000 in back taxes, with the penalties and interest throughout the years it could be like $40,000 or $50,000.
A Wage Garnishment is Embarrassing
The entire scenario is one that is quite embarrassing too. If you work in a small business, then you will feel like everyone knows that parts of your wages are being garnished for unpaid back taxes. What is even more embarrassing is that as your wages drop, so will your ability to pay other necessary bills. Then you may end up with more financial hardship, so why not settle with the IRS and release this ugly wage garnishment?
Avoid Wage Garnishment
A wage garnishment is a very time consuming effort on the part of the process for the IRS. They typically won’t engage in such behaviors unless they feel it is absolutely necessary and that you have ignored all their previous notices. You can avoid such problems if you resolve your tax matter and try to work out some payment arrangement you can live with. We help our clients by stopping wage garnishments and resolving their back taxes through different settlement options such as negotiated and affordable payment plans and or offer in compromises.
Too often the IRS gets a terrible reputation. They are seen as the bad guys when all they are trying to do is collect what’s owed to the government. They do have the right to contact you about the collection proceedings though. Keep all documents you get from them and respond to them as soon as you can.
Then they know it is important to you to get things back on track. You may not realize it, but the IRS has different settlement programs to settle with taxpayers in financial difficulties. The bottom line though is that you won’t know unless you take action to resolve your tax matters, you can call us at 818-649-8552.
Get Tax Help
If you aren’t paying your taxes due to a lack of money, the thought of a wage garnishment may be something you are worried about. If you are struggling right now to make ends meet, it is only going to get harder if a percentage of your pay is allocated to the IRS and not to you. Contact us at 818-649-8552 and we can help you to get things back on track so you don’t have to worry about wage garnishment problems. The IRS isn’t a debt that you want to ignore for any reason.
We help taxpayers stop and release wage garnishments in areas such as: Whittier, La Habra, Norwalk, El Monte, Santa Fe Springs, Downey, Pico Rivera, Montebello, Hacienda Heights, La Habra Heights, West Covina, Brea, Fullerton, Yorba Linda, Cerritos, La Mirada, Lakewood, Anaheim, Santa Ana, Long Beach, Compton, Torrance, Los Angeles, Pasadena, Beverly Hills, Santa Monica and throughout Los Angeles County, Orange County, Corona, San Bernardino County, Riverside County, the Inland Empire, the San Fernando Valley and the San Gabriel Valley.