What Is Wage Garnishment and How Could It Impact You?

What are tax liens and levies? I’m going into detail about both today.
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If you don’t pay your debts, the IRS can use wage garnishment to take most of your paycheck away.

Ignoring your taxes can lead to the IRS collecting them instead. A wage garnishment or levy will only occur after you have received many notices and had many opportunities to handle your taxes on your own accord.

If a wage garnishment does proceed, the IRS will decide how much to take. This could be up to 75% of your entire check, leaving you nowhere near enough money if you live paycheck to paycheck like most Americans.

Ignoring your taxes can lead to the IRS collecting them instead.

However, there are ways to negotiate with the IRS to avoid a wage garnishment. Tax professionals can help put forward an installment plan or settlement offer. As professionals, we can take into account your living costs to keep your payments to the IRS under control and within your budget.

Our team gives you a voice in what you can pay the IRS. We can get wage garnishments removed or greatly reduced. So, if you have tax problems, you must protect yourself by hiring a professional.

If you have any other questions, would like more information, or would like to have a consultation at no charge, feel free to give me a call or send me an email. I look forward to hearing from you soon.

What Are Tax Liens and Levies?

What are tax liens and levies? I’m going into detail about both today.
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Check out our FREE tax resource library

Welcome back to another edition of our series exploring various tax problems you can run into. Today, we’re talking about tax liens and levies.

When the IRS issues a lien, it’s a lien on all of your property. It doesn’t matter if it was recorded in your county or not. This results in your inability to sell your home, car, or anything else without paying the IRS first.

These liens can elevate to a levy on your bank account. Yes, the IRS will take money directly from your bank accounts. They’ll take money from all of them if necessary. These liens also give the IRS the right to dip into your retirement accounts.

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These liens can turn into levies quickly.

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When the IRS files a federal tax lien to the county clerk in your area, it’s a public notice that you owe the IRS and must pay them first before you sell your home or anything else. A bank levy is sent to your bank saying that they must freeze the cash in your accounts up to the amount that you owe the IRS and send it to them. The freeze can last for 21 days, then the bank must send the cash to the IRS.

Bank levies are a result of ignoring multiple notices that you have been sent by the IRS. While it might be too late already, the best chance you have at removing the levy is by reaching out to an experienced tax problem specialist like myself. We can help you negotiate the amount that you owe to the IRS. We’ve had great success in the past negotiating with them. We have years of experience negotiating with the IRS in order to get our clients the lowest bill possible. There are many solutions that we can come up with, but time is of the essence.

Once you get that notice of levy, you only have 21 days to respond before they start taking your money. If you have any questions for me about how I can help you with a problem like this, give me a call or send me an email. I look forward to hearing from you.

Solutions to Your Tax Debt Problems

Do you have tax debt? If so, here are some solutions.
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One of the most common tax problems we see people running into is simply not being able to pay their tax debt. It can be hard to stay calm when you’re worried about how you’ll live when the IRS is after you. Problems like this can deteriorate marriages and decimate bank accounts and paychecks.

It’s a bad situation to be in. However, there are solutions. The first and most popular is the offer and compromise. This is where you negotiate with the IRS to pay less than what is owed. There are specific formulas and processes to accomplish this strategy. It doesn’t get done overnight or on a phone call. The entire process can take anywhere from six months to a year to complete.

You’ve likely seen advertisements on T.V. for places like Taxbuster or the Tax Relief Center. However, most of these heavy advertisers simply take your money and don’t accomplish anything. They may stave off the IRS temporarily, but they are so concerned with sales and getting money that this is where they spend all their resources, not on getting your case done.

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There are solutions to this problem.

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You should hire a local professional who is a CPA or attorney and does this kind of work every day. It should be someone you know by name and someone you can get in contact with regularly.

Dealing with the IRS is intimidating. To get the best deal with them, you should really hire a tax problems specialist such as myself. Someone who knows the ins and outs of the process and has years of experience in the business.

If you have any questions for us or want to learn more about how we can help you with your tax problems, don’t hesitate to reach out and give us a call or send us an email. We would love to hear from you soon.