Understanding Wage Garnishments: What You Need to Know
If you’re facing wage garnishment due to IRS tax debt, you’re not alone. As a seasoned tax resolution specialist with over 38 years of experience, I understand how alarming it can be to see a portion of your paycheck suddenly diverted to the IRS. At Tax Resolution Specialists LLC, we help clients regain control and find peace of mind through informed and strategic solutions.
What Is Wage Garnishment? Wage garnishment is a legal procedure where the IRS requires your employer to withhold a portion of your wages to satisfy a tax debt. Unlike other creditors, the IRS doesn’t need a court order to start garnishing your wages. This process can take a significant percentage of your income, making it difficult to cover basic living expenses.
How Does It Start? The IRS must first send you a series of notices, including a Final Notice of Intent to Levy and Notice of Your Right to a Hearing, at least 30 days before garnishment begins. If you fail to respond or resolve the issue, the IRS will notify your employer to begin withholding from your paycheck.
What Can Be Taken? The amount the IRS can garnish depends on your filing status, number of dependents, and standard deduction. However, it’s not unusual for the IRS to leave you with just enough to meet minimal living standards. This can be financially devastating for many individuals and families.
Your Rights and Options You do have rights and options. Here are a few ways we help clients:
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Installment Agreements: Set up a manageable monthly payment plan with the IRS.
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Offer in Compromise: Settle your tax debt for less than you owe if you qualify.
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Currently Not Collectible Status: Temporarily halt collection efforts if you’re experiencing financial hardship.
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Appeals and Hearings: Challenge the garnishment through formal IRS procedures.
Act Quickly The most important step you can take is to act quickly. The sooner you address the issue, the more options you’ll have to stop wage garnishment and reduce your financial burden.
We’re Here to Help At Tax Resolution Specialists LLC, we specialize in stopping wage garnishments and negotiating favorable resolutions with the IRS. We understand the stress you’re under and are here to provide expert guidance every step of the way.
Why Choose to Work with Tax Resolution Specialists LLC?
Don’t let tax problems ruin your life!. Contact Peter Marchiano, Jr., CPA today, and let’s work together to get your tax affairs back on track. Remember, taking action now can save you from more severe consequences in the future. Let our expertise be your guide to a stress-free tax resolution.
“I had a very involved tax issue and my regular accountant assured me he could handle it. Big mistake! I was referred to Pete by a close friend, thank God for that! Pete immediately got involved and straightened out the situation.
Pete is one of the most knowledgeable and caring professionals I have ever had the pleasure of working with. I highly recommend Pete for any and all tax problems.”
Mark P. | New Jersey
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