No one wants to receive a notice from the IRS about unpaid taxes. However, if you ignore this issue, you could lose a portion of future paychecks until your debt is paid. Learn how to stop an IRS wage levy so you can resolve this issue before it escalates.
A wage levy, also known as wage garnishment, is a tactic the Internal Revenue Service uses to recover unpaid back taxes. Officials contact a taxpayer’s employer to set up mandated tax debt relief through paychecks. If you’re subject to wage garnishment, your net pay will be lower due to the automatic withdrawal of funds.
Depending on your financial situation, a wage levy can create more stress and hardships. With a portion of your paycheck going to the IRS, you may not have enough income to support your basic needs. Thankfully, it’s possible to stop an IRS wage levy before it starts, depending on the circumstances.
You rely on a full paycheck to support your family and can’t afford an IRS wage garnishment. If you’re notified of a possible tax levy against you, be proactive. Consider the following options:
Perhaps you never see any notices from the IRS about your unpaid taxes. You only learn of a wage levy when your paycheck has a significant amount of funds missing without explanation. What can you do?
Typically, taxpayers will continue with wage garnishment until the debt is paid in full. You may be able to release the levy sooner or pause debt collections when you contact the IRS. Explain your financial status and explore other ways that you can pay back taxes without wage garnishment.
It’s in your interest to work with a tax attorney. Lawyers understand the complexities of tax debt and can explore other ways to address your unpaid taxes.
It’s possible to stop an IRS wage levy before it begins. Enlist professional tax help to understand your situation and explore suitable solutions. Contact Levy & Associates, Inc. for personalized tax strategies.
Our team consists of experienced accountants, former IRS officers, lawyers, and more. With our guidance, you can effectively navigate tax issues and potentially reduce legal and financial consequences.
Submit our convenient online form or give us a call at 800-TAX-LEVY to learn more about our services and schedule a consultation.
Levy & Associates is available for free initial consultations. We’re happy to answer any questions you have about the audit process or address any concerns about your specific situation.
There’s never a good time to be audited, and the time-consuming process will take away from your business or family if you try to face it alone. Let us handle and coordinate communication, so you can return to your daily life.