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IRS Wage Garnishment And Your Rights


 

You just received an IRS wage garnishment notice. Their going to levy your wages. Ouch. How can they do that? How can they seize your paychecks and just steal your money? It's yours isn't it? Unfortunately, no. When you owe a tax debt, the Internal Revenue Service is allowed to escalate the matter to an amazing level. It can take collection actions such as seizing retirement accounts, real estate, and personal possessions to ensure that the government gets its money. When you recieve notice of IRS Wage Garnishment, you must act quickly to prevent it from happening.

 

How To Stop IRS Wage Garnishment


 

One of your best moves is to call a tax attorney immediately. A tax attorney, or an enrolled agent, can help you Stop IRS Wage Garnishment immediately. Yes, enrolled agents are your advocates. It seems counter-intuitive, but these folks are the only representatives that are qualified by the Internal Revenue Service and the U.S. government to help you with any tax matter you're facing. Regardless of which avenue you choose, you need to act quickly so that they don't take further action.

Contacting your CPA is another thing you must do immediately. In fact, if the garnishment is imminent, this might be the first phone call you make. Communication must be established before it's too late. Often, a Notice of Intent To Garnish is sent before the actual garnishment notice. The reason for garnishing often stems from a breakdown in communication. Open those lines back up, and you could save yourself from heartache.

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Setting Up A Payment Plan And Agreement


 

IRS Wage Garnishment is a true nightmare, but believe it or not The Internal Revenue Service wants to help, but if you do not communicate with it, it will do whatever it deems necessary to collect the tax you owe. A payment plan is not only a reasonable offer, but the they will almost always agree to it. Voluntary tax payments mean that the government doesn't have to spend money chasing you down.

Your charged a fee for setting up a payment arrangement ($52 for direct debit arrangements, $105 for a standard agreement, and $3 if you qualify as "low income"), but this pales in comparison to having your bank account frozen while they collect their funds. You can make an installment agreement with an IRS agent at your local office, or you can call their 1-800 number and speak to an agent that way. Either way, the important thing is for you to set up some type of plan with the them.

If you owe $50,000 or less, apply online: irs.gov/Individuals/Online-Payment-Agreement-Application. You can also fill out IRS form 9465-FS, Installment Agreement Request. If you owe more than $50,000 in taxes, you must also complete Form 433-F, Collection Information Statement.

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Appealing The Debt


 

You can appeal the debt to slow down the garnishment process. While this might take some time to finalize, it will stop the process in the short-term so it's worth looking into. Appealing the debt means that you're going to propose an Offer In Compromise. IRS Form 656, Offer In Compromise, allows you to negotiate your tax debt for less than the full amount you owe.

You have to demonstrate to the Internal Revenue Service that it is unlikely you'll ever be able to repay the debt in full for them to approve the offer. However, if they accept the offer, you can choose either a lump sum cash payment or periodic payments spread out over 24 months.

 

The Cost of Doing Nothing


 

It's never a good idea to sit on your hands and do nothing. Take action today and end IRS Wage Garnishment. You have a choice as to how this situation ends. You can pay your tax debt on your terms or that of the Internal Revenue Service. When you leave it up to them, it's not going to take your best interests into consideration.

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