What is a Notice of Levy of Wages?

Being slapped with a wage levy is a very serious situation. What does such an action mean to a delinquent taxpayer? It can mean a lot trouble and should be avoided, but if it is too late to avoid, then it needs to be dealt with quickly. The filing of a federal tax levy can mean the beginning of a long downhill journey.

For starters, an IRS wage levy  can make your day to day life very difficult. Once the levy is placed on your earnings, you'll find that you barely have enough left to pay for basic expenses. Ideally, you want to take care of your tax problem before things reach this stage. However you might not be able to for an assortment of reasons.

It is important to understand that the IRS realizes the difficult position they are placing the taxpayer in and does not do so lightly or maliciously. A wage levy is the IRS’s way of getting attention and forcing the taxpayer into action. However, once a levy is in place getting it removed can be a nightmare without professional help. An agency that has experience dealing with the IRS can cut through the bureaucracy, saving you time, money, and your reputation.

Not a solicitation for legal services

IRS Wage Levy and Bank Levy

There is a difference between an IRS wage levy and a bank levy. A wage levy happens when the IRS takes money directly out of your paycheck. They go through your employer, and they can subtract earnings directly from your paycheck. A bank levy is when the IRS takes money directly out of your bank account. This is a problem if people are out of money and can't pay their tax debts back. They may have a lot of problems with earning money, and it can be difficult for them to pay all their tax debts back. They may have a ton of burdens on top of these issues too.

Tax debt doesn't have to have a court order to be reclaimed. The IRS can go in there with the legal system and take all your money that you owe them.

There are too many folks that don't get the kind of tax debt relief that they need because they don't have an experienced tax consultant helping them. They may run into problems and struggle because they haven't thought through these problems. There needs to be some kind of way that people get the help and relief they need to fix their tax and debt problems. They don't want to have to deal with these problems for the rest of their lives. It is better to get them taken care of as expeditiously as possible. Contact Wall and Associates today and learn more about your options.

Not a solicitation for legal services

The Dangers of an IRS Wage Levy

An IRS wage levy ,also known as a wage garnishment, is serious business. You need to know a levy could be imposed on you if you owe a debt. You have to know what your employer is going to be doing to your paycheck. A wage levy requires the employer to take out a certain amount of money. It is designed to take a certain amount out of a paycheck. You can find yourself in a very dangerous position if a wage levy is imposed.

The IRS can certainly derail your life if they file a wage levy. They can make your life miserable. They can make you pay them back for every debt that you owe. When the federal government is doing a wage garnishment, they refer to it as an IRS wage levy.

A wage levy can take up to 20% to 60% of earnings. This can be a big setback to most people. Not a lot of people want to deal with this kind of thing in their life. It can make their lives miserable. They may have a ton of problems, and this is only the tip of the iceberg. They don't want to have to deal with problems like this. It's up to you to work with an experienced tax consultant that can help you fix the wage levy problems that you have. It can be downright humiliating to have to deal with a wage levy when you are first starting out in your career.

Contact Wall and Associates for the help you need today.

Not a solicitation for legal services

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.

Not a Solicitation For Legal Services.

Didn't File Your Income Tax Returns On Time? Faced with an IRS Wage Levy? We Can Help!

An IRS wage levy can be a huge source of stress in your life. All of the sudden, you can’t sleep at night wondering what went wrong. Even worse, if you work for a company and the IRS has contacted them about the money you owe, you’re probably worrying that:

· Your boss knows about it

· The payroll people know about it

· Your friends know about it

· You’re going to lose your job, your house, your car, maybe everything

A common reason for receiving an IRS wage levy is failing to file income tax returns on time. And if you're stuck in this situation, don't worry - there might be an easy solution. Let's face it - whether you are in hot water because you haven’t filed returns for a number of years, or you paid no attention to past notices of unpaid taxes, you’re under an awful lot of stress!

Why is a Wage Levy Filed

The IRS files a tax levy when:

· The IRS assessed the tax and sent you a Notice of Demand for Payment

· You overlooked or refused to pay the tax

· The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing 30 days before the levy

When the IRS places a levy on our wages, the tax collector could seize:

· Your property

· Your home

· Your bank account

· Your business assets

· Your paycheck

· Just about anything you own that has equity

However, it’s not as bad as it sounds. If you act quickly, you can correct the problem.

What Can You Do?

Always remember, the IRS wants to collect all the money you owe so they will work with a cooperative taxpayer to resolve the situation. On the other hand, no two taxpayers’ problems and financial situations are the same; each taxpayer must decide their course of action based on their individual financial circumstances.

Don't go at it alone! Contact us today for help from the experts. With our in-depth understanding of IRS inner-workings and knowledge and experience that the average taxpayer doesn't have, we can help. Contact us today at (888) 900-9863.

Not a Solicitation For Legal Services

Avoiding an IRS Wage Levy

If something seems amiss about your tax filings, you may find yourself being threatened with an IRS wage levy. A levy could have a serious impact on your standard of living. Once the IRS decides to slap a levy on your bank account or wages, you'll no longer have a say in how much money the IRS gets to take from you. Wage levies are different from liens. According to the IRS web site:

"A lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt. If you do not pay your taxes (or make arrangements to settle your debt), the IRS may seize and sell any type of real or personal property that you own or have an interest in."

Once the IRS wage levy has been served, you'll start seeing your money disappear. So much might be removed from your paycheck every week that you'll find you can't live on what's left. Without professional help, overcoming this might seem impossible.

This is where the tax consultants at Wall & Associates, Inc. can help.

Our expert staff has years of experience dealing with the IRS and its representatives who will be trying to make contact with you. If you've been threatened with a levy or have already had one placed on your finances, contact us today for a free consultation. We can stop an IRS tax levy on your bank account and get it released.

Having an IRS Wage Levy Will Continuously Follow You Around

If you value the contents of your checking account and ensure that you, and only you have access to it, then you are going to want to avoid an IRS wage levy at all costs.

A wage levy is a commonly used form of forced collection by the IRS. The IRS will contact your current employer and send an IRS Wage Levy Notice. This notice insists that your employer deducts a certain percentage of your paycheck in order to meet the amount you currently owe in taxes.

Don't think that your employer won't follow through with this, either. If your employer doesn't deduct the money, then your employer will be responsible for the tax amounts that should have been withheld from your paycheck. Coupled with the fact that your own individual wages will be withheld by your employer as addressed by the IRS, this can prove to be an incredibly unattractive situation for you, your finances and your employer.

Regardless of the successful career you may be working, an IRS wage levy can severely affect you financially speaking. You may find yourself having trouble paying everyday finances including rent, mortgage, car insurance and even small bills such as your cell phone. An IRS wage levy can severely affect families with young children to provide for as well.

Let's face it – an IRS wage levy is a powerful tool that can leave you financially torn just by the simple fact of not paying taxes. Clearly, the best course of action is to avoid the levy from the beginning. As long as you stay in touch with the IRS about and maintain a good relationship, you should not have to resort to dealing with a wage levy.

Wall and Associates can help, so contact us today at (888) 900-9863!


Not a Solicitation For Legal Services