IRS Wage Garnishment
IRS Wage Garnishment Assistance
Imagine that it’s payday, you check the amount of your paycheck, and it is significantly lower than usual. You are concerned and don’t understand why until you recall that IRS Notice of Intent to Levy about a month ago, and you forgot to address it (or maybe ignored it). Now the IRS is taking portions of your paycheck each month, in some cases, up to 70% of your income. What a nightmare! Unfortunately, this happens to many people every year.
Can The IRS Garnish Wages For Taxes Owed?
If you owe back taxes, unfortunately, the IRS can garnish your wages as a means of collecting the full amount of money owed. While other creditors can also garnish wages as well, the IRS can do so without getting a judgment first and can take more than what a regular creditor would. They contact your employer, who then has no other option but to comply.
What Happens When The IRS Garnishes Wages?
There is a State and Federal limit to the amount that most creditors can take from your wages, but for the IRS, the tax code only limits the amount the IRS is required to leave in your paychecks. And don’t be mistaken, the IRS will take as much as it can and only leave you with the minimum amount the tax code says is required for basic living necessities.