A
wage garnishment stays in effect until the tax is fully paid or until
the IRS agrees to release the wage garnishment. Both the IRS
frequently uses wage garnishments to collect taxes owed through your
employer. Once a wage garnishment is filed, the employer is required
to collect a percentage of each paycheck. A wage garnishment requires
that a large percentage of taxpayer's wages be turned over directly to
the IRS or the state.
The
amount that the IRS can keep from any wage garnishment is based on
your marital status and number of dependents. Basically the IRS keeps
most of the money from a wage garnishment. The amount of your income
that is exempt from an IRS wage garnishment is figured by adding the
standard deduction you can claim on your taxes and the amount you can
claim for exemptions, divided by 52. A family of three subject to a
wage garnishment will only be allowed to keep about $325 per week.
A
number of our clients turn to us for emergency help with a wage
garnishment. Our tax attorneys understand how important a regular
paycheck is to our clients and their families. We also understand how
especially devastating a wage garnishment is to taxpayers with
families. Upon being retained, our tax attorneys immediately contact
the IRS or the state to negotiate the release of the wage garnishment.
Of course, releasing or lowering a wage garnishment is only a
temporary solution. Our tax attorneys follow up by developing a
long-term strategy for dealing with the tax bill. Once the wage
garnishment is released, we will either set up a repayment plan or
submit an offer in compromise for our clients.
TO ENSURE COMPLIANCE WITH REQUIREMENTS IMPOSED BY THE
IRS, WE INFORM YOU THAT ANY TAX ADVICE CONTAINED IN THIS COMMUNICATION
(INCLUDING ANY ATTACHMENTS) WAS NOT INTENDED OR WRITTEN TO BE USED, AND
CANNOT BE USED, FOR THE PURPOSE OF (1) AVOIDING TAX RELATED PENALTIES
UNDER THE INTERNAL REVENUE CODE OR (2) PROMOTING, MARKETING OR
RECOMMENDING TO ANOTHER PARTY ANY MATTERS ADDRESSED HEREIN.
