Stop IRS Wage Garnishments
If you owe money to the Internal Revenue Service (IRS) that you have not attempted to pay, it can garnish part of each paycheck until you satisfy the debt. This is the most common form of debt collection used by the IRS. Unlike other creditors, the IRS does not have to obtain a judgment against you before deducting additional wages from your paycheck. However, it does need to send you an itemized list of the amount you owe. This may include back taxes, penalties, interest, or a combination of any of these.
There is no need to fight your battle alone. In fact, working with an agency shows the IRS you mean business. And when you work with Yarborough, you get more than the agency with experience in settling tax debt; you get an agency with many Enrolled Agents who have gained firsthand knowledge by working as federal agents. Because we know how the system works from the inside, we can help secure an agreement will also satisfy the government while keeping your best interest in mind.
How the Process of Wage Garnishment Works
After the IRS has given you adequate time to pay your debt or contact it to make other arrangements, it will notify your employer to have a specific percentage of your wages deducted from each check until you have paid the debt in full. If your employer does not comply, the IRS will hold it personally liable to pay your tax debt. Normally, the IRS gives your employer only one pay cycle to comply.
Obviously, having additional money withheld from your paycheck can create enormous financial hardship. Unlike regular creditors, no laws exist to limit the amount of money the IRS can deduct from your paycheck to satisfy your debt. It looks at your number of exemptions and other information on your most recent tax return to determine what to withhold. In some cases, it could be as much as 70 percent of your income.
If you are self-employed, the IRS is unable to garnish your wages in the traditional way. However, it may place a hold on your bank account or go after other sources of income. Before your situation gets to this point, contact Yarborough Professional IRS Debt Solutions for help. Since most of our agents previously worked for the IRS, we have the experience to negotiate on your behalf to stop wage garnishments. Our Enrolled Agents will also work out a plan that allows you to make payments towards your tax debt while still allowing you to keep enough of your income to meet your everyday living expenses and other debts.
What to Expect When Working with Us
Prospective clients come to us frequently with requests to help them stop IRS wage garnishments. When you contact our office, we will put you in touch with a tax professional who will let you know if we can help with your situation. Since the majority of our Enrolled Agents are former IRS agents themselves, we are able to help people in even the most complex and dire circumstances settle with the IRS. After a free review of your tax issue, we identify the problem and create a solution to solve it. If you agree to our proposal, the next step is for us to contact the IRS as your representative to get the wage garnishment stopped.
Some people attempt this step (stopping wage garnishments) on their own, and most end up less than satisfied with the results. The IRS depends on people feeling too intimidated to challenge their counter-offer, which is usually what ends up happening, and they pay more than they can afford. Because our Enrolled Agents have insider experience, they know how to propose a solution that is both fair to you and acceptable to the IRS. The IRS also looks favorably upon taxpayers who hire an agency like Yarborough to represent them because it shows you are serious about settling your tax debt to the best of your ability.
You don’t have to live with the stress of wage garnishments another day. Contact us now to request a consultation. After you begin repaying the IRS according to your new agreement, you can relax and enjoy life the way you were meant to do.