Techniques For Ending Wage Garnishment
Taxes are needed to run our governmental system
. Due to this fact, enforcing tax payment is important to the government and the IRS.
If your taxes are not paid by the specified deadline, whether you were unwilling or unable to pay them, some aggressive methods may be used by the IRS to collect the money you owe to the government.
These methods are not personal attacks. The IRS must enforce tax collection because the government needs taxes to be able to run.
For example, if you were working for someone and they did not pay you when they said they would it is likely you would take action to get the money they owe you. This is the same as with the government. They want their money and they will do what they need to in order to receive it.
It is important to understand that the goal of the IRS is not to make you suffer. Instead, the IRS is trying to enforce the U.S. tax system and get you back to contributing to the system.
The government can use any combination of property levies, bank account levies, and wage garnishment to collect unpaid tax money.
Wage garnishment, also known as a wage levy, is one of the most severe collection mechanisms used by the IRS.
Wage garnishment is when the IRS takes a cut of your paycheck each month. The government will continue to receive a cut of your paycheck until they receive the full amount owed to them.
The IRS will generally take between 30 and 70 percent of each of your paychecks. They will continue to take the amount that they specify out of every paycheck. They will stop garnishing your payments as soon as the full debt is paid off.
Your employer is responsible for making the payment to the government from your wages. Because of this it is not likely that you will be able to get out of paying the percentage out of each paycheck.
Keep in mind that under the Consumer Credit Protection Act, only particular types of income can be garnished by the government legally.
This means that general wages, salary, bonuses, commission, or other personal income can be garnished by the government. But, any income such as tips and bonuses are not considered income that can be taken for wage garnishment purposes.
You can try to make another payment arrangement with the IRS, if you would rather pay with another method. Here are some of the most common ways to deal with paying taxes.
The best way to deal with late taxes is to just pay the amount that is owed. This is the simplest and fastest way to stop wage garnishment. Once taxes are paid in full the IRS will immediately halt collection actions and remove the levy.
The second method is to get help from a wage garnishment professional. Their expert advice will help you know your options.
Third, is making an installment agreement with the government. This means that you promise to pay a certain amount per month, like paying a bill.
Once you have your installment agreement accepted you will be considered to be in good standing with the IRS as long as you continue paying them each month.
Fourth, file for an offer in compromise. An offer in compromise allows a taxpayer to settle their taxes owed for far less than the total amount.
The only way to qualify is if you meet a strict set of requirements and go through a tax filing. Not many people will qualify for an offer in compromise.
If you are considering this method, you should hire a tax professional. They can look at your situation to see if you are a likely candidate and then let them handle the filing on your behalf.
Fifth, prove financial hardship.
Proving financial hardship will only put off the money collection until a later date and will not lessen the amount you owe. The IRS will then look at your financial situation again after a certain amount of time.
If your financial situation has improved enough to begin collection actions when they reassess then they will require you to pay in full or at least continue paying at that time.
You can totally avoid tax garnishment by paying your taxes on time and in full. If this is not a possibility, be sure to take a look at all of your options before taking action.
by: Terry Daniels
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