Is the IRS Garnishing Your Wages

You may have heard someone say, "Ignore the IRS and they will levy your wages." And while this is true, most of us tend to ignore, without thinking that we are harming ourselves or without the intent of cheating the government. But Internal Revenue Service has the power to garnish your wages and take an amount usually more than what the creditors may actually want to give. This can result in mismanagement of your finances, personal problems or budgeting issues at your home and office. That’s why you need to deal with IRS levy on wages immediately.

Internal Revenue Services can demand an employer to cut a pre-determined portion of wages and send it directly as a tax debt to IRS. This levy, unlike others is a continuous levy, which is applied and applicable to all future wages unless the government determines that the debt is full paid. But till the time the debt is paid, you might have to reel under a variety of financial problems and handle budget constraints in your personal life. So, if IRS is levying on wages, this is what you can do to stop or handle it.

Whether your tax debt is small or large, you must make sure that they you contact a tax attorney or a tax related company to help you immediately. This will ensure that you have a solution to handle IRS. Tax attorneys from the company will study your requirements, your tax debt and understand the details of garnishment levied on you to ensure that you get a customized solution.With the help of your tax attorney, go ahead and contact the IRS. Ask your attorney to negotiate on the levy, to pull it off completely in lieu of a bulk payment as a compromise. A considerable amount of bulk payment (even if it doesn’t include the entire tax debt) can help you get rid of the levy, solve your future problems.

Otherwise, ask the attorney to get an amenable monthly plan. Most often, the original IRS levy on wages is difficult to pay and the plans may seem constraining. But a tax attorney can help solve your problem. They will negotiate for a plan, which may be longer, but easier to follow. So, you wouldn't have to be chopping off a higher amount every month.

Pleading for poverty or filing for bankruptcy is also an option, which can save you from IRS tax garnishment on the wages and may even eliminate it completely. Internal Revenue Service understands that individuals may have financial problems and can reduce the overall amount of tax debt to support them. If you file for bankruptcy, you will have more time to pay the debt, but that will lead to a major impact on your financial life. So, choose this option carefully.And once you have paid off your debts and taxes, make sure that you file for taxes with your consulting company every year to avoid it again.

I am Kea Jones a Content Curator, New York based columnist who love to write about various buzz and current affairs in business world. Besides that I am also writting reviews for various new local business houses, products and services.