Internal Revenue Service Wage Garnishments
Do you have a great amount of money that you owe the IRS?
One very commonly used method that the Internal Revenue Service uses to satisfy any outstanding tax debts is through garnishing your wages. That’s right, the IRS has authority at taking portions of your paycheck away to satisfy any debts that you might have! It is a very efficient and remarkable tool that they use to get their money back.
They do not garnish your paycheck the first minute that you owe taxes. There is a three benchmark process that they follow before they can even touch your paycheck. Personally, I would not wait until crossing the third benchmark to actually do something about it, but most people procrastinate. These are the three benchmarks that are taken.
First of all, the Internal Revenue Service needs to assess the amounts of tax debt that need to be satisfied. Once they figure out what is owed, a notice will be sent to you stating a “Demand for Payment.”
Secondly, the taxpayer would have either failed to or possibly refused payment to the IRS. This is what happens quite alot.
Then the final step of the process is for the IRS to send you a “Final Intent to Levy” and “Notice of Your Rights to A Hearing” at least 30 days prior to garnishment procedures. This message could be received by mail, at home or work. Sometimes a process server will personally deliver this message to you.
And most of the time, the taxpayer is not even aware that the proceedings for garnishment are going on. Once the Tax Levy takes place, your employer is forced to withhold quite a substantial amount of your paycheck.
Do you really want this to happen?
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