What Is A Wage Garnishment
Wage garnishment, also called a wage levy, is one of the worst collection methods available to the IRS. Simply put it is when the IRS has a predetermined percentage of money remove from your pay check before you every see it. You should know that your employer has no choice but to comply with IRS agents or they themselves will be responsible for paying the tax debt.
While you may think there is a limit to how much they can take,in truth there is not. When determining the percentage removed from your pay, the amount will be based on the number of exemptions you qualify for – anything above that number is fair game.
This draconian collections method is especially harsh for those who are already in dire straights.
Additionally, without direct intervention the IRS will continue to levy your wages until the total amount of tax debt has been collected. however there is hope.
Wage Garnishment Can Be Stopped
Our law firm can end wage garnishment quickly as part of a larger debt settlement agreement.
Many tactics are available to put an end to wage garnishment but by far the most attractive is to enter into negotiations for an offer in compromise or other tax settlement program.
This may be effective in stopping the wage garnishment even if the IRS refuses your first offer. Once you enter into negotiations, the IRS stops the aggressive collections during the negotiations.
During this time Pearson Butler will determine the best course of action which may end something other than an OIC such as an installment agreement, or a combination of actions such as challenging the stated amount owned, filing for non-collectable status and many other options short of the “nuclear” option below.
All of the most effective and least damaging ways of permanently stopping a wage levy will require a commitment to become compliant with all current and past tax filings. Should you successfully enter into an agreement with the IRS you will also need to stay current, or you could end up in a worse situation and once again facing harsh collection methods.
Other ways to disrupt wage garnishment:
Other much less desirable ways to put off or stop wage garnishment include filing for bankruptcy protection.
However bankruptcy may only protect you from IRS collections in SOME circumstances, and will have long-lasting effects on your financial life so it should never be entered into lightly.
Other ill-advised tactics can include a shell-game of ending employment with your current job to work at another, it will take the IRS a while to file the needed motions to resume garnishment but this will merely put off the inevitable and will likely land you into further trouble making things worse in the long term.
Get Help Today
Contact Pearson Butler today to stop wage garnishment and get your IRS problems behind you for good.