Whether,
requesting offer in compromise, hardship status, or an
installment payment plan you will be required to file back tax
returns and complete an IRS or State financial
statement as outlined in the article entitled Offer
in Compromise Net Income.
A
collection notice of "intent to levy" generally
precedes a levy by 30 days and allows a taxpayer the
opportunity to:
-
To
Pay the Tax Debt
-
File
Back Tax Returns
-
File
an Offer in Compromise
-
Request
Innocent or Injured Spouse Relief
-
Prove
Economic Hardship
-
Make an
Installment Agreement
-
File
Bankruptcy, or
-
Request
a Due Process Hearing.
A State
wage levy will generally confiscates 25% of your
earnings each pay period and IRS Publication
1494 is used to compute the amount of earnings exempt from
an IRS wage levy.
Each of the above
alternative actions have the potential to either
settle or eliminate your back tax debt.
Our Privacy
and Security Policies guarantee that "only"
contact initiated by you and required to remove the
garnishment or settle the underlying problem will occur
at any time, now or in the future.
OTHER
RELATED RESOURCES
An
IRS or State wage levy is an enforced collection
action that legally mandates an employer to levy and remit a percentage of each
paycheck until the back taxes are paid in full or
until your employer receives formal
notification to discontinue levy withholdings.
Given
the time constraints it will generally require a professional
assistance to complete the
financial statement, assemble the required documentation and submit
the forms before a wage garnishment
begins.
The terms
wage garnishment, levy or seizure mean the same thing and
confiscate earnings from employment activities. This
article will address wage garnishments in
general and provide information to assist with
the removal and reduction of levy attachments.
LIMITS
ON WAGE GARNISHMENTS
LEVY
WITHHOLDING ORDERS
PRIVACY
AND SECURITY POLICIES
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