Wage Garnishments, Bank Levies, and Federal Tax Liens

Is The IRS Taking Some (Or Most) Of Your Take-Home Pay Before You Can Take It Home? Are You Afraid They Are Going To?

“Wage Garnishment” is an IRS tax collection tactic to intercept your money to pay your tax debt before you get a chance to spend it on anything else.

There are two things you can do about an IRS wage garnishment:

1. Stop it from happening before it starts by contacting the IRS to resolve your tax problem; or
2. If the deductions have already started, let us at Best Tax Pro show you how to STOP wage garnishment.

How to STOP Wage Garnishment

The problem with IRS wage garnishment is that the IRS has the power to leave you with very little money after they seize the portion of your wages to pay back taxes until your tax debt is paid in full. Your employer has no power to stop the garnishment. The best way to stop a wage garnishment, or the threat of one, is to contact the IRS to resolve the back tax problem that triggered this harsh debt collection tactic.

It’s a good idea to look for a permanent solution to your back tax problem, because once the IRS has wage garnishment in the debt collection plan, a related tactic is seizing your bank accounts in a bank levy. Either way, Best Tax Pro is here to help.

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An IRS Bank Levy and Can Ruin Your Whole Day (and Every Day Thereafter Until You Get It Released)

The IRS can drop the hammer and levy your assets after the they have sent notices of taxes owed to you as an individual taxpayers or to your business. The notice demands payment and makes a notification of the IRS’s intent to collect. Sometimes these notices arrive after an IRS Revenue Officer has made multiple attempts to call or contact you without success, and without any payment or an agreed plan to pay the back taxes. This is frequently a catastrophic event in the economic life of a taxpayer or business.

An IRS bank levy is a seizure of the entire asset. Any asset can be levied but the most common ones levied upon are cash assets like personal and business bank accounts. One day the money is there; the next morning the money is gone! The asset levy is considered by most taxpayers and business owners to be the most severely disruptive collection action the IRS could ever take – because while the IRS gets their tax money, all of your other vendors, employees and you, only get what’s left. There are steps you can take to get a bank levy released fast, but this is best done by a tax professional like the Enrolled Agents at Best Tax Pro.

An IRS bank levy does not happen without notice. The IRS sends several notices of intent to levy assets and then a final notice of intent to levy. The sooner you call Best Tax Pro after you get any levy notice, the greater the chances that Best Tax Pro can head off trouble. Better than that, if you partner with Best Tax Pro, your tax problem will be resolved permanently, for the lowest amount allowed by law, establishing payment arrangements with the IRS that you can manage. Save yourself; save your business.​

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What To Do When You Are Worried About IRS Tax Liens

The most useful advice if you are worried about IRS Tax Liens is to resolve the tax debt problem before the IRS has a chance to file a lien on your property. If you already have an IRS tax lien filed, you won’t get it lifted until you resolve the tax debt problem. Either way, Best Tax Pro can help you with resolving this.

A tax lien is a public legal notice that the IRS (or State income tax authority) has a formal claim against the asset named in the lien, whether bank account, real estate, equipment, or any other valuable asset. The lien tells the world that the IRS intends to get paid first. This makes it very difficult, if not impossible, to sell the asset to a third party and the mere existence of tax liens says you are a credit risk. It’s important to take action to avoid liens, and to get them lifted as quickly as possible if they are attached to one or more of your assets.

There is usually sufficient time to avoid an IRS tax lien because there is a specific sequence of events that must take place before the IRS can impose a lien. First, the IRS must assess tax, which requires that either you filed a tax return or the IRS filed one for you because you didn’t. Then the IRS must send you a Notice of Demand for Payment (NOD). Generally, you have ten days after the date of this notice to send in your tax payment, or make arrangements to pay – Best Tax Pro can also help you with this. If you do not send payment, or arrange to pay, the IRS can file a lien. And then you should contact Best Tax Pro to have us help get the lien lifted.

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