The Consequences of Unpaid Taxes
If you neglect to file returns or take care of owing the IRS any back taxes in a timely fashion, you may ultimately be vulnerable to an IRS wage garnishment. And while it’s important to do everything you can to prevent such action, if your payroll has already been infiltrated by the IRS, you may need to stop wage garnishment…before it compromises your finances.
IRS Wage Garnishment, Defined
Garnishing wages or paycheck garnishment is exactly what it sounds like: portions of each of your paychecks are withheld, in this case because you owe an outstanding tax balance. Chances are, you’re well aware of your status with the IRS – particularly if there is a problem. You’ll begin receiving notices after a tax debt has been assessed, complete with instructions on what action you need to take.
How to Correct Course
When trying to determine how to stop a garnishment, your first step should be to consult with a professional tax relief organization. Such a company not only understands how to stop garnishment efforts, but also how to prevent it from happening again. In order to stop garnishment activity, a formal resolution will need to be put into place.
This resolution consists of an agreement between you and the IRS; in many cases terms of repayment are determined (how to stop a wage garnishment is secondary to fixing the underlying problem). Once a plan has been established to repay the back tax, garnishment of your wages can be halted. If you think you might be facing such action and you’re wondering “how much can the IRS garnish your wages?” you’ll want to request professional assistance as quickly as possible.
An IRS Garnishment, Phone Number Concerns and What to Do Next
Rather than calling the IRS directly, a good first step is to request a consultation with a licensed tax professional. This is particularly important because even if your wages are being garnished, the IRS may still proceed with a bank garnishment, effectively wiping out your checking or savings account. This requires a little more description than “how does wage garnishment work”; the point is that your finances are in jeopardy.
A licensed tax professional understands not only how to stop wage garnishments, but what IRS payment plans you qualify for based on your circumstances. Handling such IRS action on your own is ill-advised. First, when you’re dealing with aggressive collection action, you can’t simply write a “stop wage garnishment” letter to the IRS. You’ll need to explain precisely what steps you’re going to take to resolve your tax issue. These details may be best left to a licensed tax professional, who can ensure you get the fairest arrangement possible.
Stop Wage Garnishment Immediately
Don’t wait to act if your wages are being garnished. Not only are you vulnerable to further collection activity such as a bank levy or property seizure, your IRS troubles may quickly become workplace gossip. Your employer will receive a notice of your wage garnishment, including the details of how much will be deducted (when it comes to how much can the IRS garnish my wages, this depends largely on where you live in the country and the specific amount of your wages). To learn more about garnishment rules, or to take immediate action to get a garnishment stopped, you can contact Tax Defense Network, LLC, for a no-cost obligation.