IRS Wage Levies: One of the Many Ways the IRS can Collect

An IRS wage levy is a garnishment from a person's compensation which goes to pay back taxes; levies will usually come after several letters and phone calls from the IRS regarding taxes owed.

An IRS wage levy is an aggressive form of tax collection and is often used as a last resort. The IRS would rather use a different method to collect unpaid taxes, and a wage levy usually only comes after ignoring previous warnings. Once the IRS decides to enforce the levy, they will contact your employer and have part of your wage deducted before it gets to you in order to pay the debt.

The Internal Revenue Code allows the IRS not only to levy the debtor's wages, but also their other monetary assets such as bank accounts and pensions if the taxpayer continues to ignore or refuse to pay taxes; furthermore, they can go so far as to place liens on property, such as cars, houses, or boats if the money is not paid. The IRS can even seize property of yours that is being held by someone else. While giving up a boat because of back taxes may not hurt a person, losing a house because of it could put many people in a position of hardship.

If one has neglected or refused to pay any back taxes, an IRS wage levy is a possibility. There are, however, several solutions to the problem, the most common of which is applying for an Offer in Compromise. With an Offer in Compromise, a debtor can get IRS approval to make payments over time instead of paying at once. Another option is to hire a tax consultant that specializes in back taxes and can help people to find the best options for getting out of debt.

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Why You Need Professional IRS Tax Help

Wall & Associates offers people IRS tax help, and the benefits are endless. We have helped thousands of people find the help they need, and we can help you, too. Let's discuss some of the benefits of hiring Wall & Associates.

One of the benefits that customers enjoy is getting numbers advice. We have the experience needed to give you the consultation you need to effectively make a deal with the IRS that won't hurt you financially.

Wall & Associates knows how to have its customers evaluate their assets and liabilities, and customers are advised on how much of an offer they should make. We have been in the business for a very long time. Experience has been acquired along the way, and now we can advise customers on how to argue their case. We know all about the IRS's procedures and rules. This works in the customer's favor.

Additionally, not many people know this, but Wall & Associates was started by a tax expert. Our knowledge helps customers argue their cases based on pure facts, so customers are well-protected when they hire us. Customers also benefit from hiring us because we know how to handle aggressive IRS Offer Specialists, and customers rarely have to deal with them because we do it for them.

People who need help dealing with the IRS can and should protect themselves from extreme legal actions from the IRS by hiring Wall & Associates. Dealing with the IRS is not pleasant and can be very intimidating. People should not be afraid of the IRS and should not feel pressure. We will deal with the IRS on their behalf.

Back Taxes Happen--There are Solutions

Back taxes are accrued from a previous period due to insufficient or lacking payments.  An individual may fail to report taxable income or underpay taxes intentionally or unintentionally, but no matter the reason, tax agencies reserve the right to demand payment and impose penalties, fines, and interest.

Although a person may owe back taxes to the state or local agencies, the term is usually used in reference to federal taxes. Every year, a large number of individuals in the United States fail to file tax returns.   While some may only remain delinquent for a year or maybe two, a large number miss filing their tax returns for several years.

There are several reasons why individuals miss filing their taxes, the most common reason being a lack of funds. Once a person misses filing his or her tax returns for a number of years, the accumulated cost might be too much to bear, and the individual feels that there is no option but to continue avoiding filing. The problem with avoidance is that back taxes always have a way of catching up with one sooner rather than later.

While some might be desperate enough to think that going off the grid is a viable solution to avoid paying back taxes, federal tax agencies have a wide network and will definitely catch up with anyone defaulting. The best option is being upfront about debt. Tax agencies want people to pay what they owe, and throwing them in jail is not the best way to get them to do that.  Get the help of an experienced tax consultant to come up with a solution to your problem. They'll help you in your negotiations with the IRS.

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