San Diego Wage Garnishment
The IRS has many tools for collecting outstanding debts, and a very effective tool is the recurring wage garnishment. The IRS can notify your employer that you have back tax debt, and your employer will be required by law to send a significant portion of each of your paychecks directly to the IRS to pay down that debt.
Percentage the IRS Will Garnish Your Wages
The actual amount sent to the IRS for your wage garnishment depends on your filing status, the number of exemptions you claim, and how often you get paid. As an example, in 2010, if you are single, claim just one exemption and get paid biweekly (every other Friday), the IRS can force your employer to send all but approximately $360 out of each paycheck. Very few people can live on $720 a month, and this type of garnishment can lead to financial collapse in your household. The specific formula for deciding the amount to send the IRS is explained on levy Form 668-W. If you do nothing, the IRS will continue to require your employer to send money out of your paycheck until the debt is satisfied in full.
Wage Garnishment Attorney Benefits
Regal Tax & Law Group, PC can work with the IRS to negotiate the full or partial release of the wage garnishment, depending on your unique financial circumstances. Additional items may be required, such as getting any past due or nonfiled tax returns completed and submitted. The professionals working with Regal Tax & Law Group, PC can help to arrange the appropriate preparation and submission of all outstanding documentation.
Call or email us today regarding your unique situation and a tax attorney will explain your options to resolve any outstanding tax debts. Regal Tax & Law Group, PC is here to serve you with the best and most well rounded tax resolution possible.
Call 866.849.8566 to speak with one of the tax attorneys at Regal Tax and Law Group, P.C. and obtain a free consultation.