Stop Wage Garnishments
Every income-making citizen has to make regular tax payments to the government corresponding to their earnings. If a person stops paying their taxes for some reason, the Internal Revenue System (IRS) is within their rights to take action against that person and try to get what they are owed to the State. One of those ways is through wage garnishment, a forceful seizure of part or all of your wages when you are paid by your employer.
What is IRS Wage Garnishment?
When a person stops paying their taxes, the IRS would contact their employers for the payments that they are owed. The employer would be directed to keep a certain percentage of their employee’s salary and remit that to the IRS in place of the owed tax. This process is known as wage garnishment.
The employer would be forced to comply with the orders of the IRS. The wage garnishments will take place until the debt has been paid or the taxpayer has managed to come up with a deal with the IRS. The other way for the IRS to collect the owed tax is through bank garnishment, where the taxpayer’s bank is asked to pay on their behalf until the issue is resolved.
How do we stop the Wage Garnishment?
When you are notified by the IRS through an official document regarding the wage garnishment, there are several ways in which you could put an end to it. The best way is to consult a professional and discuss the best course of action under the conditions.
Here are few ways in which the Wage Garnishments may be stopped:
Payoff the Owed Amount
The best course of action to pay what you owe to the IRS in a lump sum amount. That way, with just one payment, you would be back to getting full pay from the employer. It will make sure that no harm comes to your credit too.
Paying off what you owe to the IRS at once may be difficult for some. You may need to take a loan from a friend or a family member to pay off the owed debt to the IRS. Once you have managed to pay the debt, your wage garnishment would be revoked by the IRS.
Setup and Installment Plan
For those taxpayers who feel that paying the whole amount at once would be a difficult task, you may negotiate with the IRS to come up with an installment plan. The IRS offers various installment plans based on the taxpayer’s need. You may select the one most suitable for you and stay with it until the owed tax is paid fully.
With a payment plan, you would have the freedom to pay off the debt in a more comfortable manner, rather than having to pay all at once. Once you have managed to get the IRS to agree on an Installment Plan, your wage garnishment would be revoked, and your salary would return to its previous status.
Negotiate with the IRS
The IRS is quite sympathetic when it comes to dealing with deserving citizens. If your financial condition does not permit you to pay off the current amount you owe, then the next best solution is to negotiate with the IRS and try to come up with an Offer in Compromise.
The Offer in Compromise is a great way to reduce the burden of owed tax from your shoulders. In this plan, you would plead with the IRS that your current financial conditions do not in any way permit you to pay the full tax. So, the IRS must reduce the amount of owed tax. The Offer in Compromise may help you substantially get your owed taxes reduced. But to do so, you must have a strong legal team at your back. The legal team would help you present your case better and help you with documents making your story more believable.
For the taxpayers who are in extreme financial turmoil, this is the most beneficial way to deal with the tax troubles. In this plan, you will plead to the IRS that you do not have a source of income or any assets that allow you to pay off the tax, and your current status does not allow the wage to be garnished.
That would help you get the non-collectible status. The non-collectible status would make sure that the IRS does not charge any taxes from you at the moment and give you time to revolve your financial conditions. This would make sure that the garnishment on your wage is revoked. And for a period, the IRS would not ask you for the owed taxes.
The IRS can sometimes make mistakes when it comes to estimating the earrings of the taxpayer, and they ask to pay the tax which you do not need to. In that case, the IRS must be notified of their mistake through the transcript protest.
The IRS must be contacted and all the income sources must be shared with them. This would help them rectify their mistake and remove any kind of wage garnishments wrongfully imposed on your salary.
Get the Legal help you need Today
There are various rules and regulations in place by the IRS that are meant to make sure that taxpayers regularly pay their taxes. BUT, various other laws are there to make sure that help is provided to those who need it.
Understanding these laws may be complicated for some. That is why it is recommended to hire legal help when it comes to dealing with tax troubles with the IRS. Our team of talented professionals will make sure that you stay as far from any tax-related issues as possible.
Our team is fully trained in working with the IRS agents especially in the matter of wage garnishments. We will help you prepare the forms, build your case and help you implement the best strategy that could help you get out of the situation unscathed. So, if you are facing any kinds of troubles with the IRS, feel free to contact one of our experts and be free from the worries.