IRS Wage Garnishment
Have you received an IRS Notice of Intent to Levy Letter?
Wage garnishment is when the IRS notifies your employer that you have unpaid tax debt. Your employer is then obligated to send part of your wages to the IRS to satisfy your tax debt.
Do not ignore any mail from the IRS. This is especially important if you received an IRS Notice of Intent to Levy. If you ignored such a letter, you will regret it within 30 days. That is when you will get a surprise on payday from your employer. You may be expecting a check but you will open the envelope or review your direct deposit and find that the IRS has taken most of your money. What's left may not be enough to pay the rent, car payment, buy groceries, or pay the rest of the bills. The wage garnishment will continue until the tax owed is paid in full.
Once a wage garnishment is received by your employer, they are required by law to collect a specified amount from your paychecks.
We work together to find a resolution and if necessary will act on your behalf before the IRS to assist you in to negotiating the release of IRS wage garnishments by arranging a payment plan on your behalf. The payment plan negotiated by us is always more favorable than any IRS wage garnishment. It allows you to receive a larger portion of your paycheck without fears of future wage garnishments.
How to Stop a Wage Levy
At Fajardo & Associates, we can work quickly to resolve the garnishment. We have experience mediating between taxpayers and the IRS. The payment plan negotiated by us is always more favorable than any IRS wage garnishment. There are many options on how to pay off your tax bill including:
Pay Off Your Tax Debt in Full
This will immediately end the wage garnishment. Obviously, if you could pay your back taxes you would have already taken care of it.
Enter into an Installment Agreement
An installment agreement allows you to receive a larger portion of your paycheck without the fear of future wage garnishments. . We will work together to find a resolution and if necessary will act on your behalf before the IRS to negotiate an installment agreement and when the IRS accepts it, the wage garnishment will end.
File an Offer in Compromise
An offer in compromise reduces the debt to the IRS when they agree to accept less than the full amount owed. Having financial difficulties may make you eligible to qualify for this option. Not everyone can qualify for this option.
Have Your Debt Declared Currently Not Collectible
You may be able to apply for this special status as a temporary solution if you're living on a fixed income, unemployed, or suffering from an illness that prevents you from working. The IRS halt their attempts to collect the debt and consider it “Currently Not Collectible”.
Contact us immediately and we will work together to find a resolution and if necessary will act on your behalf before the IRS to potentially work out an arrangement to settle your debt and have the wage garnishment removed.