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Stop IRS Levy Wage GarnishmentWhen collections enforcement turns ugly, the IRS has certain tools at its disposal to put pressure on the taxpayer to come clean. One of these tools is the IRS Levy . A Levy is a legal seizure of assets taken in order to satisfy a tax debt. Levies are typically applied to bank accounts, securities, and/or real estate, Wage Garnishment, and will effectively deny the taxpayer access to whatever property has been levied. If an operating business is involved, the IRS can (and will) stake a claim on any Accounts Receivable, robbing the corporation of much-needed cash flow. The problem, of course, is that once a Levy is in place, that property legally belongs to the IRS, which makes it even harder to pay back the debt that led to the Levy! A Levy will almost always cause financial distress to the affected taxpayer, especially when it comes with little prior warning. It is possible to have a Levy released and the property returned to the taxpayer's control, but generally the IRS will only do so when the taxpayer enters into an agreement to repay the tax debt, or if he or she can prove that the Levy is creating a financial hardship. (Note: It's not a Hardship just because you find it unpleasant; to qualify for a Hardship Deferment, you must prove that the Levy is inhibiting your ability to meet the basic needs of living.) One specific type of Levy that the IRS uses to
force compliance and secure what is owed to them is the Wage
Garnishment - also known as a IRS Levy Wage Garnishment. When the IRS becomes aware of a taxpayer's debt, and
sees that an employer is filing a W-2 for them, they may contact the
employer's payroll department and demand that they withhold a portion of that taxpayer's
wages or salary. The employer CANNOT refuse to do so. Many people get
hit by surprise with a Wage Garnishment, and the unexpected reduction
in income can be particularly painful. As with other forms of IRS
Collections action, a Wage Garnishment will only be removed if the
taxpayer enters into some form of
settlement agreement or proves a Hardship. SIGN UP FOR A Free IRS Levy Wage Garnishment ConsultationCall TOLL FREE(888) 282-4697We will help you: |
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